Short Interest in Invesco Quality Municipal Income Trust (NYSE:IQI) Declines By 46.1%

Key Points

• Short interest plunged 46.1% to 83,739 shares as of Feb. 27 (from 155,223 on Feb. 12), leaving a days-to-cover ratio of just 0.7 and only 0.2% of shares sold short.
• Insider sale: Portfolio Manager Jack Connelly sold 3,900 shares on Jan. 7 at an average $10.02, reducing his stake by 41.49% to 5,500 shares.
• Dividend: The fund declared a monthly dividend of $0.0631 per share payable Mar. 31 (record date Mar. 16), implying an annualized yield of about 7.5%.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 83,739 shares, a decline of 46.1% from the February 12th total of 155,223 shares. Based on an average daily volume of 126,600 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are sold short. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 126,600 shares, the days-to-cover ratio is currently 0.7 days.

Insider Activity at Invesco Quality Municipal Income Trust

In related news, Portfolio Manager Jack Connelly sold 3,900 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $10.02, for a total value of $39,078.00. Following the completion of the transaction, the portfolio manager directly owned 5,500 shares of the company's stock, valued at approximately $55,110. This represents a 41.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quent Capital LLC purchased a new stake in shares of Invesco Quality Municipal Income Trust in the third quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new position in Invesco Quality Municipal Income Trust during the fourth quarter worth approximately $35,000. Farther Finance Advisors LLC acquired a new position in Invesco Quality Municipal Income Trust during the third quarter worth $69,000. Cottage Street Advisors LLC acquired a new position in Invesco Quality Municipal Income Trust during the fourth quarter worth $100,000. Finally, International Assets Investment Management LLC purchased a new stake in Invesco Quality Municipal Income Trust in the 4th quarter valued at $109,000.

Invesco Quality Municipal Income Trust Price Performance

Shares of Invesco Quality Municipal Income Trust stock traded down $0.04 during trading hours on Thursday, reaching $10.07. 71,591 shares of the company's stock were exchanged, compared to its average volume of 129,579. The business has a fifty day moving average of $10.09 and a two-hundred day moving average of $9.97. Invesco Quality Municipal Income Trust has a 1 year low of $8.86 and a 1 year high of $10.42.

Invesco Quality Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.0631 per share. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Monday, March 16th.

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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