City of London Investment Management Co. Ltd. Sells 247,219 Shares of Invesco Quality Municipal Income Trust (NYSE:IQI)

Key Points

• City of London Investment Management Co. Ltd. has significantly reduced its stake in Invesco Quality Municipal Income Trust by 51.4%, bringing its total holdings to 233,922 shares valued at approximately $2.26 million.
• Pathstone Holdings LLC and LPL Financial LLC have both increased their positions in Invesco Quality Municipal Income Trust, with boosts of 16.4% and 17.3%, respectively, indicating ongoing interest from hedge funds in this investment.
• The Invesco Quality Municipal Income Trust recently announced a monthly dividend of $0.0631 per share, reflecting an annualized dividend yield of 8.1%.

City of London Investment Management Co. Ltd. lowered its holdings in Invesco Quality Municipal Income Trust (NYSE:IQI - Free Report) by 51.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 233,922 shares of the financial services provider's stock after selling 247,219 shares during the quarter. City of London Investment Management Co. Ltd. owned 0.44% of Invesco Quality Municipal Income Trust worth $2,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of Invesco Quality Municipal Income Trust by 30.1% in the first quarter. PNC Financial Services Group Inc. now owns 76,287 shares of the financial services provider's stock worth $738,000 after acquiring an additional 17,666 shares during the last quarter. XTX Topco Ltd acquired a new position in Invesco Quality Municipal Income Trust during the 1st quarter valued at $243,000. LPL Financial LLC boosted its holdings in Invesco Quality Municipal Income Trust by 17.3% in the 1st quarter. LPL Financial LLC now owns 592,689 shares of the financial services provider's stock valued at $5,737,000 after purchasing an additional 87,535 shares during the period. Stratos Wealth Advisors LLC grew its position in Invesco Quality Municipal Income Trust by 5.2% in the 1st quarter. Stratos Wealth Advisors LLC now owns 265,413 shares of the financial services provider's stock worth $2,569,000 after purchasing an additional 13,112 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Invesco Quality Municipal Income Trust by 62.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 24,712 shares of the financial services provider's stock worth $239,000 after purchasing an additional 9,528 shares during the period.

Insider Buying and Selling

In related news, Portfolio Manager Timothy M. O'reilly purchased 5,360 shares of the stock in a transaction on Tuesday, June 24th. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $50,008.80. Following the completion of the transaction, the portfolio manager directly owned 5,360 shares of the company's stock, valued at approximately $50,008.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Invesco Quality Municipal Income Trust Stock Down 0.2%

Shares of IQI traded down $0.02 during trading hours on Thursday, reaching $9.43. 147,061 shares of the company traded hands, compared to its average volume of 201,874. The stock's fifty day moving average is $9.33 and its 200 day moving average is $9.54. Invesco Quality Municipal Income Trust has a 1-year low of $8.86 and a 1-year high of $10.53.

Invesco Quality Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a $0.0631 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a c) annualized dividend and a yield of 8.0%.

Invesco Quality Municipal Income Trust Profile

Invesco Quality Municipal Income Trust is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, INVESCO Asset Management (Japan) Limited, Invesco Hong Kong Limited, INVESCO Senior Secured Management, Inc, and Invesco Canada Ltd.