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% (NXJ: 0.0%), and (4) prohibited income below 5% (NXJ: 0.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

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

Nuveen New Jersey Quality Municipal Income Fund (NXJ) has a non-permissible income ratio of 0.00%. Muslim investors should purify this percentage of any dividends received and capital gains realized from NXJ shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation 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 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. 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

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 Jul 16, 2026

Basket Composition

0% 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 Halal0%

Unknown100%

Compliance History

Under Review, unchanged since Jun 2026.

No status changes recorded since we began tracking.

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

Fiscal: N/AData source: FMP-LOOKTHROUGH

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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 screened using AAOIFI Standard 21 look-through analysis. Each underlying holding is screened individually and the weighted aggregate determines the fund verdict. Check the verdict above for the current compliance ruling.

Why did Nuveen New Jersey Quality Municipal Income Fund get a C+ 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: Jul 16, 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.