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

Key Points

• Invesco Quality Municipal Income Trust declared a monthly dividend of $0.0631 per share, payable August 31 to shareholders of record August 17. The payment implies an annualized yield of approximately 7.7%.
• IQI opened at $9.86, down 0.1%, trading below its 50-day moving average of $10.03 and 200-day moving average of $9.97. Its 52-week range is $9.26 to $10.42.
• The closed-end fund primarily invests in investment-grade municipal securities to provide federally tax-exempt income, while several institutional investors recently increased their stakes.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) announced a monthly dividend on Monday, August 3rd. Stockholders of record on Monday, August 17th will be paid a dividend of 0.0631 per share by the financial services provider on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Monday, August 17th.

Invesco Quality Municipal Income Trust Trading Down 0.1%

NYSE IQI opened at $9.86 on Tuesday. The stock has a 50-day moving average of $10.03 and a 200 day moving average of $9.97. Invesco Quality Municipal Income Trust has a one year low of $9.26 and a one year high of $10.42.

Institutional Investors Weigh In On Invesco Quality Municipal Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cottage Street Advisors LLC raised its position in shares of Invesco Quality Municipal Income Trust by 550.0% in the 1st quarter. Cottage Street Advisors LLC now owns 65,000 shares of the financial services provider's stock worth $625,000 after acquiring an additional 55,000 shares in the last quarter. Compound Planning Inc. grew its stake in Invesco Quality Municipal Income Trust by 6.2% during the 1st quarter. Compound Planning Inc. now owns 30,041 shares of the financial services provider's stock worth $289,000 after buying an additional 1,764 shares during the last quarter. Kercheville Advisors LLC grew its stake in Invesco Quality Municipal Income Trust by 31.2% during the 1st quarter. Kercheville Advisors LLC now owns 21,000 shares of the financial services provider's stock worth $202,000 after buying an additional 5,000 shares during the last quarter. Alpine Global Management LLC increased its position in Invesco Quality Municipal Income Trust by 2.7% during the 4th quarter. Alpine Global Management LLC now owns 115,507 shares of the financial services provider's stock valued at $1,150,000 after buying an additional 3,007 shares in the last quarter. Finally, Savant Capital LLC increased its position in Invesco Quality Municipal Income Trust by 121.9% during the 4th quarter. Savant Capital LLC now owns 29,682 shares of the financial services provider's stock valued at $296,000 after buying an additional 16,307 shares in 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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