Stock On Watch: Learn Why Wells Fargo & CompanyMn Just Purchased Nuveen New Jersey Dividend Advantage Municipal Fund Stake?

Stock On Watch: Learn Why Wells Fargo & CompanyMn Just Purchased Nuveen New Jersey Dividend Advantage Municipal Fund Stake?

The New Wells Fargo & CompanyMn Holding in Nuveen New Jersey Dividend Advantage Municipal Fund

Wells Fargo & CompanyMn filed with the SEC SC 13D form for Nuveen New Jersey Dividend Advantage Municipal Fund. The form can be accessed here: 000119312516773806. As reported in Wells Fargo & CompanyMn’s form, the filler as of late owns 74.2% or 2,329 shares of the Finance–company.

Nuveen New Jersey Dividend Advantage Municipal Fund stake is a new one for the for this institutional investor and it was filed because of activity on November17, 2016. We feel this shows Wells Fargo & CompanyMn’s positive view for the stock.

Nuveen New Jersey Dividend Advantage Municipal Fund Institutional Sentiment

Latest Security and Exchange filings show 43 investors own Nuveen New Jersey Dividend Advantage Municipal Fund. The institutional ownership in Q3 2015 is low, at 5.98% of the outstanding shares. This is increased by 304 the total institutional shares. 2544891 were the shares owned by these institutional investors. In total 6 funds opened new Nuveen New Jersey Dividend Advantage Municipal Fund stakes, 14 increased stakes. There were 3 that closed positions and 12 reduced them.

Brave Asset Management Inc is an institutional investor bullish on Nuveen New Jersey Dividend Advantage Municipal Fund, owning 25983 shares as of Q3 2015 for 0.25% of its portfolio. Russell Lucas Lucas Capital Management owns 29610 shares or 0.22% of its portfolio. TX Doliver Capital Advisors Inc have 0.39% of their stock portfolio for 40864 shares. Further, Brick & Kyle Associates reported stake worth 0.21% of its US stock portfolio. The NY Tortoise Investment Management Llc owns 44640 shares. Nuveen New Jersey Dividend Advantage Municipal Fund is 0.22% of the manager’s US portfolio.

Business Profile

Nuveen New Jersey Dividend Advantage Municipal Fund (the Fund) is a diversified closed-end management investment fund. The Fund’s investment objective is to provide current income exempt from both regular federal and New Jersey income taxes by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within a single state or certain United States territories. The Fund invests approximately 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, as judged by the manager to be of comparable quality. The Fund may invest approximately 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality. Its portfolio composition includes tax obligation/limited, education and civic organizations, transportation, tax obligation/general and housing/multifamily. Its investment advisor is Nuveen Fund Advisors, LLC.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment increased to 1.67 in Q2 2016. Its up 0.96, from 0.71 in 2016Q1. The ratio improved, as 5 funds sold all Nuveen New Jersey Dividend Advantg Mncpl shares owned while 12 reduced positions. 2 funds bought stakes while 10 increased positions. They now own 2.15 million shares or 12.46% less from 2.45 million shares in 2016Q1.

Finemark Bancshares And has 4,764 shares for 0.01% of their US portfolio. Moreover, First Manhattan has 0% invested in Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) for 13,138 shares. Peapack Gladstone Financial holds 0% or 13,238 shares in its portfolio. Moreover, Advsr Asset Mgmt Incorporated has 0.07% invested in Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) for 285,517 shares. Raymond James Associate has 14,217 shares for 0% of their US portfolio. Lucas Cap Mgmt reported 30,078 shares or 0.33% of all its holdings. Guggenheim Cap Ltd Liability holds 0.02% of its portfolio in Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) for 460,459 shares. Tortoise Invest Mngmt holds 0.2% or 37,832 shares in its portfolio. Highlander Mgmt Ltd Liability Company, a New Jersey-based fund reported 1,602 shares. Morgan Stanley has 217,571 shares for 0% of their US portfolio. Creative Planning holds 0% of its portfolio in Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) for 1,418 shares. Ladenburg Thalmann Services reported 7,901 shares or 0% of all its holdings. Tfs Ltd Limited Liability Company reported 20,773 shares or 0.06% of all its holdings. Commonwealth Equity Svcs accumulated 17,470 shares or 0% of the stock. Asset holds 38,981 shares or 0.12% of its portfolio.

The stock increased 0.46% or $0.06 on November 21, hitting $13.16. About 180,745 shares traded hands or 78.77% up from the average. Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) has declined 9.84% since April 19, 2016 and is downtrending. It has underperformed by 13.70% the S&P500.

Nuveen New Jersey Dividend Advantage Municipal Fund is a diversified closed-end management investment fund. The company has a market cap of $558.28 million. The Fund’s investment objective is to provide current income exempt from both regular federal and New Jersey income taxes by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within a single state or certain United States territories. It currently has negative earnings. The Fund invests approximately 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, as judged by the manager to be of comparable quality.

More notable recent Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) news were published by: Marketwatch.com which released: “Nuveen New Jersey Dividend Advantage Municipal Fund downgraded to hold from …” on February 06, 2011, also Businesswire.com with their article: “Nuveen Announces Results of Closed-End Fund Shareholder Meetings” published on August 19, 2014, Businesswire.com published: “Nuveen Announces Completion of New Jersey Municipal Closed-End Fund Merger …” on November 10, 2014. More interesting news about Nuveen New Jersey Dividend Advantg Mncpl (NYSE:NXJ) were released by: Businesswire.com and their article: “Three Nuveen Closed-End Funds Announce Variable Rate Demand Preferred Share …” published on November 17, 2016 as well as Forbes.com‘s news article titled: “Secure Funds With Tax-Equivalent Yields Of 10% Or Higher” with publication date: June 17, 2016.

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