Wells Fargo unit restructures 2,329 NXJ preferreds

Wells Fargo Municipal Capital Strategies, LLC, a subsidiary of Wells Fargo & Company, completed an internal restructuring involving the Nuveen New Jersey Quality Municipal Income Fund.

Rhea-AI Filing Summary

Wells Fargo Municipal Capital Strategies, LLC, a subsidiary of Wells Fargo & Company, completed an internal restructuring involving the Nuveen New Jersey Quality Municipal Income Fund. It exchanged 2,329 Variable Rate Demand Preferred Shares of this fund for an equal number of similar shares of NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND in a cashless transaction, leaving no Variable Rate Demand Preferred Shares of the original fund reported as held after the transaction. Wells Fargo’s interest is indirect, through its ownership of the subsidiary.

Insider Trade Summary

Other: 2,329 shares

Other 1 txn

Insider WELLS FARGO & COMPANY/MN, Wells Fargo Municipal Capital Strategies, LLC

Role 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
Other	Variable Rate Demand Preferred Shares	2,329	$0.00	$0.00

Holdings After Transaction: Variable Rate Demand Preferred Shares — 0 shares (Indirect, By Subsidiary)

Footnotes (3)

1. F1. In connection with the reorganization of the Issuer into NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND ("NMZ"), 2,329 variable rate demand preferred shares (the "VRDP Shares") of the Issuer beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies") were exchanged for an equal number of VRDP Shares of NMZ in a cashless transaction. The 2,329 shares reported as disposed of in Table I represent shares that were beneficially owned by Capital Strategies. Capital Strategies is a wholly owned subsidiary of Wells Fargo & Company ("Wells Fargo").
2. F2. This statement is jointly filed by Wells Fargo and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary Capital Strategies.
3. F3. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

Key Figures

VRDP shares restructured: 2,329 shares Price per share: $0.0000 per share NXJ VRDP shares after transaction: 0 shares

3 metrics

VRDP shares restructured 2,329 shares Variable Rate Demand Preferred Shares exchanged in cashless transaction

Price per share $0.0000 per share Reported transaction price for VRDP share exchange

NXJ VRDP shares after transaction 0 shares Total Variable Rate Demand Preferred Shares reported following restructuring

Key Terms

Variable Rate Demand Preferred Shares, cashless transaction, reorganization, beneficially owned, +1 more

5 terms

Variable Rate Demand Preferred Shares financial

"2,329 variable rate demand preferred shares (the "VRDP Shares") of the Issuer"

cashless transaction financial

"were exchanged for an equal number of VRDP Shares of NMZ in a cashless transaction"

reorganization financial

"In connection with the reorganization of the Issuer into NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND"

beneficially owned financial

"2,329 variable rate demand preferred shares ... were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

indirect interest financial

"Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Wells Fargo’s subsidiary do in this Form 4 for NXJ?

Wells Fargo Municipal Capital Strategies, LLC exchanged 2,329 Variable Rate Demand Preferred Shares of NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND for an equal number of similar shares of NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND in a cashless restructuring transaction, leaving no reported preferred shares of NXJ afterward.

Was the NXJ Form 4 transaction a market buy or sell?

No. The Form 4 for NXJ shows an “other” transaction coded J, reflecting an internal restructuring. 2,329 Variable Rate Demand Preferred Shares were exchanged in a cashless transaction for identical shares of another Nuveen fund, rather than being bought or sold in the open market.

Who actually owned the NXJ preferred shares reported in this filing?

The 2,329 Variable Rate Demand Preferred Shares of NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC. That entity is a wholly owned subsidiary of Wells Fargo & Company, giving Wells Fargo only an indirect interest in the reported securities.

How many NXJ Variable Rate Demand Preferred Shares remain after the restructuring?

After the restructuring, the Form 4 reports total holdings of 0 Variable Rate Demand Preferred Shares of NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND. All 2,329 shares previously beneficially owned by the Wells Fargo subsidiary were exchanged into Variable Rate Demand Preferred Shares of NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND.

Why is this Form 4 for NXJ jointly filed by Wells Fargo and its subsidiary?

The statement is jointly filed because Wells Fargo holds an indirect interest in the reported securities through its wholly owned subsidiary, Wells Fargo Municipal Capital Strategies, LLC. The filing clarifies that Wells Fargo’s interest arises solely from its indirect ownership of the subsidiary that held the preferred shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/29/2026 - 06:38 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WELLS FARGO & COMPANY/MN

(Last) (First) (Middle)

401 SOUTH TRYON STREET

(Street)

CHARLOTTE NORTH CAROLINA 28202

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND [ NXJ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Variable Rate Demand Preferred Shares	04/27/2026		J(1)(2)		2,329	D(1)	(1)	0	I	By Subsidiary(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

WELLS FARGO & COMPANY/MN

(Last) (First) (Middle)

401 SOUTH TRYON STREET

(Street)

CHARLOTTE NORTH CAROLINA 28202

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Wells Fargo Municipal Capital Strategies, LLC

(Last) (First) (Middle)

30 HUDSON YARDS

(Street)

NEW YORK NEW YORK 10001

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. In connection with the reorganization of the Issuer into NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND ("NMZ"), 2,329 variable rate demand preferred shares (the "VRDP Shares") of the Issuer beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies") were exchanged for an equal number of VRDP Shares of NMZ in a cashless transaction. The 2,329 shares reported as disposed of in Table I represent shares that were beneficially owned by Capital Strategies. Capital Strategies is a wholly owned subsidiary of Wells Fargo & Company ("Wells Fargo").

2. This statement is jointly filed by Wells Fargo and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary Capital Strategies.

3. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

Remarks:

Exhibits Index Exhibit 99.1 - Joint Filing Agreement Exhibit 99.2 - Joint Filer Information

	WELLS FARGO & COMPANY, by: /s/ Patricia Arce	04/29/2026
	WELLS FARGO MUNICIPAL CAPITAL STRATEGIES, LLC, by: /s/ Daniel Frizsell	04/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)