The trade for Jensen came one day after the Capitals acquired forward Carl Hagelin from the Los Angeles Kings for two draft picks.
Jensen has 43 points (six goals, 37 assists) in 190 NHL games during three seasons, all with the Red Wings. Detroit selected him in the fifth round (No. 149) of the 2009 NHL Draft. He spent one season in the United States Hockey League, three at St. Cloud State and was in his fourth season with Grand Rapids of the American Hockey League before making his NHL debut with the Red Wings on Dec. 20, 2016.
The Red Wings (23-29-9) host the Minnesota Wild at Little Caesars Arena on Friday (7:30 p.m. ET; FS-D, FS-N+, FS-WI, NHL.TV). Detroit is 15 points behind the Carolina Hurricanes for the second wild card into the Stanley Cup Playoffs from the Eastern Conference.
"I'm happy for Nick Jensen. This is a great day for him and his family," Red Wings general manager Ken Holland said. "And we're excited we got a young defenseman and a second-round pick in 2020 given the direction we're trying to go."
Bowey has six points (one goal, five assists) in 33 games this season with the Capitals, who selected him in the second round (No. 53) of the 2013 NHL Draft. The 23-year-old has 18 points (one goal, 17 assists) in 83 NHL games, all with Washington, since making his NHL debut on Oct. 14, 2017.
The Capitals signed Bowey to a two-year contract with an average annual value of $1 million on July 19.
Washington (34-20-7) is second in the Metropolitan Division, two points behind the first-place New York Islanders. The Capitals play at the Buffalo Sabres on Saturday (1 p.m. ET; NHLN, SN, MSG-B, NBCSWA, NHL.TV).