Invesco Quality Municipal Income Trust (NYSE:IQI) Sets New 52-Week Low - Here's What Happened

Key Points

• Invesco Quality Municipal Income Trust shares fell 4.1%, reaching a new 52-week low of $8.92 during Thursday trading, below its 50-day and 200-day moving averages near $9.95 and $9.92.
• The fund declared a monthly dividend of $0.0631 per share, equivalent to approximately $0.76 annually and an 8.5% yield.
• Several institutional investors increased or initiated positions in IQI during recent quarters, including NewEdge Advisors, IFP Advisors, North Ground Capital and Centaurus Financial.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $8.92 and last traded at $8.9530, with a volume of 661160 shares trading hands. The stock had previously closed at $9.34.

Invesco Quality Municipal Income Trust Stock Down 4.1%

The business has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $9.92.

Invesco Quality Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.0631 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.76 dividend on an annualized basis and a yield of 8.5%.

Institutional Trading of Invesco Quality Municipal Income Trust

Hedge funds have recently made changes to their positions in the company. North Ground Capital purchased a new stake in shares of Invesco Quality Municipal Income Trust during the 2nd quarter valued at approximately $1,214,582. Centaurus Financial Inc. purchased a new position in Invesco Quality Municipal Income Trust in the second quarter worth approximately $1,016,000. NewEdge Advisors LLC increased its stake in Invesco Quality Municipal Income Trust by 23.2% during the second quarter. NewEdge Advisors LLC now owns 561,365 shares of the financial services provider's stock worth $5,681,000 after acquiring an additional 105,880 shares during the last quarter. IFP Advisors Inc increased its stake in Invesco Quality Municipal Income Trust by 47.1% during the second quarter. IFP Advisors Inc now owns 182,631 shares of the financial services provider's stock worth $1,848,000 after acquiring an additional 58,480 shares during the last quarter. Finally, Cottage Street Advisors LLC raised its position in Invesco Quality Municipal Income Trust by 550.0% in the first quarter. Cottage Street Advisors LLC now owns 65,000 shares of the financial services provider's stock valued at $625,000 after purchasing an additional 55,000 shares during the period.

Invesco Quality Municipal Income Trust Company Profile

Invesco Quality Municipal Income Trust NYSE: IQI is a closed-end investment company managed by Invesco Advisers. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal securities.

Its portfolio may include bonds and other debt obligations issued by states, municipalities, government authorities and other public entities throughout the United States. These securities generally finance public-purpose projects and services, such as transportation, education, utilities and healthcare facilities.

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