Wells Fargo (NYSE: NXJ) unit swaps 2,329 Nuveen preferred shares in fund reorg

Wells Fargo Municipal Capital Strategies, LLC, a subsidiary of Wells Fargo & Company, executed an internal restructuring. This involved exchanging 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 transaction. After the exchange, Wells Fargo’s subsidiary reported zero preferred shares of the original fund, maintaining an indirect interest through its ownership of the subsidiary.

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