Invesco Quality Municipal Income Trust (NYSE:IQI) Share Price Breaks Below 50-Day Moving Average - Should You Sell?

Key Points

• IQI fell below its 50-day moving average: Shares traded as low as $8.96 and last changed hands at $9.011, below the 50-day average of $9.48 and the 200-day average of $9.79.
• The trust offers a high tax-advantaged income yield: It declared a monthly dividend of $0.0631 per share, equivalent to approximately $0.76 annually and an 8.4% yield. The article describes this as an increase, although the stated amount matches the previous monthly dividend.
• Institutional ownership generally increased, while an insider sold shares: Several investment firms added to their positions during the third quarter, while portfolio manager Timothy O’Reilly sold 6,282 shares for about $55,721.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $9.48 and traded as low as $8.96. Invesco Quality Municipal Income Trust shares last traded at $9.0110, with a volume of 215,713 shares trading hands.

Invesco Quality Municipal Income Trust Stock Up 0.3%

The firm's fifty day moving average price is $9.48 and its 200 day moving average price is $9.79.

Invesco Quality Municipal Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a dividend of $0.0631 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Wednesday, October 14th. This is an increase from Invesco Quality Municipal Income Trust's previous monthly dividend of $0.0631.

Insider Activity

In other news, Portfolio Manager Timothy O'Reilly sold 6,282 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.87, for a total value of $55,721.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IQI. Retirement Planning Group LLC acquired a new position in Invesco Quality Municipal Income Trust in the third quarter valued at approximately $121,000. Kercheville Advisors LLC boosted its position in Invesco Quality Municipal Income Trust by 10.5% in the 3rd quarter. Kercheville Advisors LLC now owns 21,000 shares of the financial services provider's stock worth $181,000 after purchasing an additional 2,000 shares in the last quarter. IFP Advisors Inc boosted its position in Invesco Quality Municipal Income Trust by 19.2% in the 3rd quarter. IFP Advisors Inc now owns 217,664 shares of the financial services provider's stock worth $1,876,000 after purchasing an additional 35,033 shares in the last quarter. Fortitude Advisory Group L.L.C. grew its stake in shares of Invesco Quality Municipal Income Trust by 9.8% during the 3rd quarter. Fortitude Advisory Group L.L.C. now owns 28,278 shares of the financial services provider's stock worth $244,000 after purchasing an additional 2,522 shares during the period. Finally, Hardin Capital Partners LLC grew its stake in shares of Invesco Quality Municipal Income Trust by 58.5% during the 3rd quarter. Hardin Capital Partners LLC now owns 51,500 shares of the financial services provider's stock worth $444,000 after purchasing an additional 19,000 shares during the period.

Invesco Quality Municipal Income Trust Company Profile

Invesco Quality Municipal Income Trust NYSE: IQI is a diversified, closed-end management investment company. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, territories, and local governments in the United States.

The trust's portfolio may include general obligation bonds, revenue bonds, and other debt obligations issued to finance public infrastructure and services. In addition to pursuing tax-advantaged income, the fund may seek capital appreciation when consistent with its investment strategy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.