Invesco Quality Municipal Income Trust (NYSE:IQI) Sees Strong Trading Volume - Here's What Happened

Key Points

• Invesco Quality Municipal Income Trust traded 132,074 shares, about 9% below the prior session’s volume. The stock closed at $10.23 and last traded at $10.2450, above its 50-day and 200-day moving averages.
• The trust declared a monthly dividend of $0.0631 per share, payable August 31 to shareholders of record August 17. The dividend equates to an annualized yield of approximately 7.4%.
• Institutional investors recently increased exposure, including NewEdge Advisors, Centaurus Financial and Royal Bank of Canada, while North Ground Capital and Worth Asset Management initiated new positions.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) saw unusually-strong trading volume on Friday . 132,074 shares changed hands during trading, a decline of 9% from the previous session's volume of 145,033 shares.The stock last traded at $10.2450 and had previously closed at $10.23.

Invesco Quality Municipal Income Trust Price Performance

The stock has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $9.97.

Invesco Quality Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.0631 per share. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Trading of Invesco Quality Municipal Income Trust

Large investors have recently modified their holdings of the business. North Ground Capital bought a new stake in shares of Invesco Quality Municipal Income Trust in the second quarter worth $1,214,582,000. Worth Asset Management LLC bought a new stake in Invesco Quality Municipal Income Trust in the second quarter valued at $254,000. NewEdge Advisors LLC boosted its holdings in shares of Invesco Quality Municipal Income Trust by 13.0% during the first quarter. NewEdge Advisors LLC now owns 455,485 shares of the financial services provider's stock valued at $4,382,000 after acquiring an additional 52,443 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Invesco Quality Municipal Income Trust by 7.1% during the first quarter. Centaurus Financial Inc. now owns 103,781 shares of the financial services provider's stock valued at $998,000 after acquiring an additional 6,860 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Invesco Quality Municipal Income Trust by 4.9% during the first quarter. Royal Bank of Canada now owns 244,870 shares of the financial services provider's stock worth $2,356,000 after acquiring an additional 11,490 shares during the last quarter.

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.

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