Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of Invesco Quality Municipal Income Trust (NYSE:IQI) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $10.03 and traded as low as $9.85. Invesco Quality Municipal Income Trust shares last traded at $9.8610, with a volume of 146,216 shares traded.

Invesco Quality Municipal Income Trust Stock Performance

The firm’s 50-day moving average is $10.04 and its two-hundred day moving average is $9.96.

Invesco Quality Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0631 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Monday, August 17th.

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Invesco Quality Municipal Income Trust by 182.6% during the fourth quarter. NewEdge Advisors LLC now owns 403,042 shares of the financial services provider’s stock worth $4,014,000 after purchasing an additional 260,439 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Invesco Quality Municipal Income Trust by 144.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 311,786 shares of the financial services provider’s stock valued at $2,919,000 after purchasing an additional 184,049 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in Invesco Quality Municipal Income Trust by 15.7% in the 4th quarter. Guggenheim Capital LLC now owns 1,203,595 shares of the financial services provider’s stock valued at $11,988,000 after purchasing an additional 163,271 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Invesco Quality Municipal Income Trust by 7.4% during the 2nd quarter. Raymond James Financial Inc. now owns 1,353,664 shares of the financial services provider’s stock worth $12,697,000 after purchasing an additional 92,863 shares during the last quarter. Finally, Cottage Street Advisors LLC boosted its stake in Invesco Quality Municipal Income Trust by 550.0% during the 1st quarter. Cottage Street Advisors LLC now owns 65,000 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 55,000 shares during the last quarter.

Invesco Quality Municipal Income Trust Company Profile

Invesco Quality Municipal Income Trust (NYSE: IQI) is a closed-end management investment company listed on the New York Stock Exchange. Managed by Invesco Advisers, Inc, the fund’s primary objective is to provide investors with a high level of current income that is exempt from federal income taxes. To achieve this, the trust invests predominantly in investment-grade municipal securities issued by U.S. states, municipalities, and their agencies.

The portfolio holds a diversified blend of municipal bonds, including general obligation bonds, revenue bonds, and other tax-exempt obligations.