Invesco Quality Municipal Income Trust (NYSE:IQI) Plans Monthly Dividend of $0.06

Key Points

• Invesco Quality Municipal Income Trust declared a monthly dividend of $0.0631 per share, payable September 30 to shareholders of record on September 14. The distribution implies an annualized yield of approximately 7.6%.
• IQI shares opened at $10.01, with a 52-week range of $9.26 to $10.42 and 50-day and 200-day moving averages of $10.09 and $9.97, respectively.
• Several institutional investors increased their positions, including NewEdge Advisors and Ameriprise Financial. The closed-end fund primarily invests in investment-grade municipal bonds to generate federally tax-exempt income.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) declared a monthly dividend on Tuesday, September 1st. Stockholders of record on Monday, September 14th will be given a dividend of 0.0631 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, September 14th.

Invesco Quality Municipal Income Trust Stock Down 1.1%

Shares of NYSE IQI opened at $10.01 on Wednesday. The stock has a fifty day moving average price of $10.09 and a 200 day moving average price of $9.97. Invesco Quality Municipal Income Trust has a 1-year low of $9.26 and a 1-year high of $10.42.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in Invesco Quality Municipal Income Trust by 182.6% in the fourth quarter. NewEdge Advisors LLC now owns 403,042 shares of the financial services provider's stock valued at $4,014,000 after purchasing an additional 260,439 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of 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 buying an additional 184,049 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of 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 buying an additional 163,271 shares during the period. North Ground Capital purchased a new stake in shares of Invesco Quality Municipal Income Trust in the second quarter valued at approximately $1,214,582. Finally, Centaurus Financial Inc. acquired a new position in Invesco Quality Municipal Income Trust during the second quarter worth $1,016,000.

About Invesco Quality Municipal Income Trust

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source