Does Nuveen New Jersey Quality Municipal Income Fund pass AAOIFI screening?

Nuveen New Jersey Quality Municipal Income Fund (NXJ) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (NXJ: 0.0%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Nuveen New Jersey Quality Municipal Income Fund stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for Nuveen New Jersey Quality Municipal Income Fund (NXJ) using the latest financial data.

Where can I screen Nuveen New Jersey Quality Municipal Income Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Nuveen New Jersey Quality Municipal Income Fund (NXJ) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about NXJ's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

NXJ: Is Nuveen New Jersey Quality Municipal Income Fund Halal?

Nuveen New Jersey Quality Municipal Income Fund

NYSEFinancial ServicesUS

$12.41

+0.16%

Market Cap: 511.7M

Compliance Status

Not Halal

Screened on Sep 2, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Nuveen New Jersey Quality Municipal Income Fund (NXJ) halal? Not Halal. Based on AAOIFI screening, Nuveen New Jersey Quality Municipal Income Fund has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Nuveen New Jersey Quality Municipal Income Fund (NXJ) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Sep 2, 2026. Source: https://halalscreener.app/en/stock/NXJ

Basket rule

Over the limit

An ETF is halal when non-compliant holdings stay under 5% of the basket by weight.

100.0% of 5.0% limit

100% of the basket's holdings were screened individually.

About Nuveen New Jersey Quality Municipal Income Fund

The Nuveen New Jersey Quality Municipal Income Fund is a closed-end investment vehicle specializing in fixed income. Established by Nuveen Investments, Inc., this fund receives joint management oversight from Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It strategically allocates capital within New Jersey's fixed income markets, primarily comprising undervalued municipal securities and other related investments. These holdings must be exempt from both regular federal and New Jersey income taxes and possess a credit rating of at least Baa or BBB. Its portfolio construction relies on a rigorous fundamental analysis, employing a bottom-up selection methodology for its assets. Performance is measured against the Standard & Poor's (S&P) New Jersey Municipal Bond Index. Initially formed on June 1, 1999, the fund was formerly known as the Nuveen New Jersey Dividend Advantage Municipal Fund and is domiciled in the United States.

Sector: Financial Services · Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Sep 2, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Basket-weighted haram holdings exceed 5% (100.0%)

Basket Composition

100% of basket screened

ETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.

100%

Halal0%

Doubtful0%

Not Halal100%

Unknown0%

Top Holdings

New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006CNot Halal3.41%New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006CNot Halal3.38%New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010ANot Halal3.04%Middlesex County Improvement Authority, New Jersey, General Obligation Lease Revenue Bonds, New Jersey Health + Life Science Exchange - H-1 Project SeNot Halal1.55%New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Inspira Health Obligated Group Issue, Series 2017ANot Halal1.55%Union County Improvement Authority, New Jersey, Lease Revenue Bonds, Plainfield - Park Madison Redevelopment Project, Refunding Series 2013ANot Halal1.53%Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018ANot Halal1.43%Salem County Pollution Control Financing Authority, New Jersey, Revenue Bonds, Atlantic City Electric Company Project, Refunding Series 2020Not Halal1.39%Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Thirty-Six Series 2022Not Halal1.22%Delaware River Joint Toll Bridge Commission, New Jersey and Pennsylvania, Bridge System Revenue Bonds, Series 2017Not Halal1.14%

Compliance History

Not Halalnow
since Sep 2026
Under Review
until the change above

Tracked since Jun 2026. Updates automatically on each re-screen.

Fiscal: N/AData source: FMP-LOOKTHROUGH

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$396.75

+0.17%

SLVA+

iShares Silver Trust

$57.92

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

More Financial Services Stocks

JPM

JPMorgan Chase & Co.

Visa Inc.

A+

Mastercard Incorporated

A+

PYPL

PayPal Holdings, Inc.

C+

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

Track NXJ and 6,200+ stocks with AI insights

Create your free account to unlock AI-powered compliance analysis, track your portfolio, calculate purification, and get unlimited AAOIFI screening.

Get Started Free Browse Screener

6,200+ assets AAOIFI standards Free watchlist

Frequently Asked Questions

Is Nuveen New Jersey Quality Municipal Income Fund (NXJ) halal to invest in?

Nuveen New Jersey Quality Municipal Income Fund (NXJ) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Nuveen New Jersey Quality Municipal Income Fund get a F compliance rating?

Nuveen New Jersey Quality Municipal Income Fund's compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.

What could change Nuveen New Jersey Quality Municipal Income Fund's Shariah verdict?

Nuveen New Jersey Quality Municipal Income Fund's verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.

How often is Nuveen New Jersey Quality Municipal Income Fund re-screened for Shariah compliance?

Nuveen New Jersey Quality Municipal Income Fund (NXJ) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Sep 2, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.