Invesco Quality Municipal Income Trust (NYSE:IQI) Short Interest Update

Key Points

• Short interest jumped 45.6% in March to 121,912 shares (about 0.2% of shares outstanding), leaving a short-interest ratio of 1.3 days based on average daily volume of 94,067 shares.
• The trust announced a monthly dividend of $0.0631 payable March 31 (ex-dividend March 16), implying an annualized yield of 8.1%.
• Several institutional investors materially increased holdings recently—Hennion & Walsh, NewEdge, Ameriprise, Guggenheim and others added large positions, signaling notable inflows from money managers.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 121,912 shares, a growth of 45.6% from the February 26th total of 83,739 shares. Currently, 0.2% of the company's shares are short sold. Based on an average trading volume of 94,067 shares, the short-interest ratio is presently 1.3 days.

Invesco Quality Municipal Income Trust Stock Performance

Shares of NYSE IQI traded down $0.08 during mid-day trading on Friday, reaching $9.40. 243,387 shares of the company's stock were exchanged, compared to its average volume of 130,295. Invesco Quality Municipal Income Trust has a 52-week low of $8.86 and a 52-week high of $10.42. The company's 50-day moving average is $10.04 and its 200-day moving average is $10.00.

Invesco Quality Municipal Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.0631 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 8.1%.

Insider Transactions at Invesco Quality Municipal Income Trust

In other Invesco Quality Municipal Income Trust news, Portfolio Manager Jack Connelly sold 3,900 shares of the firm's stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $10.02, for a total transaction of $39,078.00. Following the completion of the sale, the portfolio manager owned 5,500 shares of the company's stock, valued at $55,110. This trade represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Invesco Quality Municipal Income Trust by 46.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 845,114 shares of the financial services provider's stock worth $8,324,000 after acquiring an additional 268,480 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Invesco Quality Municipal Income Trust by 182.6% in the 4th 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 last quarter. Ameriprise Financial Inc. increased 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 during the last quarter. Guggenheim Capital LLC raised its position in Invesco Quality Municipal Income Trust by 15.7% in the fourth 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 during the period. Finally, Advisors Asset Management Inc. raised its position in Invesco Quality Municipal Income Trust by 105.0% in the third quarter. Advisors Asset Management Inc. now owns 239,865 shares of the financial services provider's stock valued at $2,363,000 after purchasing an additional 122,849 shares during the period.

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.

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