Invesco Quality Municipal Income Trust (NYSE:IQI) Share Price Passes Below Fifty Day Moving Average - Here's Why

Key Points

• Invesco Quality Municipal Income Trust (NYSE:IQI) fell below its 50‑day moving average of $9.94, trading as low as $9.81 and last at $9.86 on volume of 79,358 shares, down about 0.3%.
• The fund declared a monthly dividend of $0.0631 per share (record date April 14, payable April 30), implying a ~7.7% dividend yield.
• Several institutional investors modestly increased their positions recently — including Cornerstone Wealth, Steward Partners, Compound Planning and HighTower — and Quent Capital initiated a small position.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.94 and traded as low as $9.81. Invesco Quality Municipal Income Trust shares last traded at $9.86, with a volume of 79,358 shares traded.

Invesco Quality Municipal Income Trust Trading Down 0.3%

The business has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $9.98.

Invesco Quality Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th will be issued a $0.0631 dividend. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Tuesday, April 14th.

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC increased its holdings in shares of Invesco Quality Municipal Income Trust by 7.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,339 shares of the financial services provider's stock valued at $153,000 after purchasing an additional 1,070 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Invesco Quality Municipal Income Trust by 13.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,944 shares of the financial services provider's stock valued at $139,000 after purchasing an additional 1,681 shares during the last quarter. Compound Planning Inc. increased its holdings in shares of Invesco Quality Municipal Income Trust by 10.2% in the third quarter. Compound Planning Inc. now owns 22,010 shares of the financial services provider's stock valued at $217,000 after purchasing an additional 2,045 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Invesco Quality Municipal Income Trust by 20.1% in the fourth quarter. HighTower Advisors LLC now owns 14,884 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 2,492 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Invesco Quality Municipal Income Trust in the third quarter valued at $27,000.

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.

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