Nightwing #5, by Kyle Higgins and Eddy Barrows, focuses on a demon menacing Jimmy, the Haly Circus's main clown, and Dick(Nightwing)Grayson's rescuing of Jimmy. Supernatural foes, as with super-powered ones, often to me feel out of place in the Bat Books, seeing as how the Bat Family are best portrayed dealing with as close to 'normal' antogonsists as possible. They are, after all, detectives, martial artists, and acrobats, not aliens with impossible powers.
Aside from the major battle, though, the issue does move the story arc begun in issue #1 along somewhat. To recap: Dick and his parents comprised the Flying Graysons, a high-wire act in the Haly Circus, until the elder Graysons were murdered, after which Dick became Robin to Bruce Wayne's Batman. He lost touch with his friends Raya, Raymond, and Zane, with whom he'd grown up, and reconnected with Raya upon the Haly Circus' arrival in Gotham, by which time Dick had graduated to his own place and identity as Nightwing. Zane had left the circus in pursuit of a criminal career, and Raya had returned to the circus with a new partner, Marc, following the death of Raymond. Though she pursued a romantic relationship with Dick, she was angry with him for not attending Raymond's funeral, though it turned out that Dick had done so, but had decided not to renew contact with her at that time.
Meanwhile, Dick inherited the Haly Circus upon the murder of C.C.Haly, the owner, by an assassin calling himself 'Saiko', who had been attempting to kill Dick Grayson, and who had succeeded in extracting Dick's secret (and those of the related Bat Family members) from Haly before he died, making Saiko even more of a menace. It turned out that Haly's son, Bryan, who resents Dick for his inheritance, is possibly employing Saiko, but the big reveal in issue 5 is that Saiko is:
Raymond, whose funeral was closed casket for a reason! Also, Raya's in on it, which means that romance is doomed. So, good news for Barbara(Batgirl)Gordon! Bad news for Dick. More next issue!