Invesco Quality Municipal Income Trust (NYSE:IQI) Hits New 52-Week Low – Here’s What Happened

Shares of Invesco Quality Municipal Income Trust (NYSE:IQI) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $8.92 and last traded at $8.9530, with a volume of 661160 shares changing hands. The stock had previously closed at $9.34.

Invesco Quality Municipal Income Trust Trading Up 0.2%

The stock’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $9.91.

Invesco Quality Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be given a dividend of $0.0631 per share. The ex-dividend date is Monday, September 14th. This represents a $0.76 annualized dividend and a dividend yield of 8.5%.

Institutional Investors Weigh In On Invesco Quality Municipal Income Trust

Several large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in shares of Invesco Quality Municipal Income Trust by 23.2% during the 2nd quarter. NewEdge Advisors LLC now owns 561,365 shares of the financial services provider’s stock worth $5,681,000 after buying an additional 105,880 shares during the period. IFP Advisors Inc lifted its position in shares of Invesco Quality Municipal Income Trust by 47.1% during the 2nd quarter. IFP Advisors Inc now owns 182,631 shares of the financial services provider’s stock valued at $1,848,000 after acquiring an additional 58,480 shares during the period. Fortitude Advisory Group L.L.C. lifted its position in shares of Invesco Quality Municipal Income Trust by 23.5% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 25,756 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 4,895 shares during the period. Van ECK Associates Corp boosted its stake in Invesco Quality Municipal Income Trust by 2.2% during the second quarter. Van ECK Associates Corp now owns 351,096 shares of the financial services provider’s stock worth $3,553,000 after acquiring an additional 7,574 shares in the last quarter. Finally, Equitable Holdings Inc. bought a new position in Invesco Quality Municipal Income Trust during the second quarter worth $172,000.

About Invesco Quality Municipal Income Trust

Invesco Quality Municipal Income Trust (NYSE: IQI) is a closed-end investment company managed by Invesco Advisers. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal securities.

Its portfolio may include bonds and other debt obligations issued by states, municipalities, government authorities and other public entities throughout the United States. These securities generally finance public-purpose projects and services, such as transportation, education, utilities and healthcare facilities.