Short Interest in Invesco Quality Municipal Income Trust (NYSE:IQI) Drops By 34.6%

Key Points

• Short interest in IQI fell 34.6% to 40,310 shares as of April 15 (from 61,618 on March 31), leaving a days-to-cover ratio of 0.2 and just 0.1% of shares sold short.
• Multiple institutions — including Hennion & Walsh, NewEdge, Ameriprise, Guggenheim and Advisors Asset Management — significantly increased their holdings, in some cases by more than 100%, signaling growing institutional interest.
• IQI declared a monthly dividend of $0.0631 per share (ex-dividend April 14, payable April 30), implying an annualized yield of about 7.7%.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 40,310 shares, a decline of 34.6% from the March 31st total of 61,618 shares. Based on an average daily volume of 200,961 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Trading of Invesco Quality Municipal Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of IQI. Hennion & Walsh Asset Management Inc. raised its holdings in 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 valued at $8,324,000 after buying an additional 268,480 shares during the period. NewEdge Advisors LLC raised 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 buying an additional 260,439 shares during the period. Ameriprise Financial Inc. raised 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 buying an additional 184,049 shares during the period. Guggenheim Capital LLC raised its holdings in Invesco Quality Municipal Income Trust by 15.7% in the 4th quarter. Guggenheim Capital LLC now owns 1,203,595 shares of the financial services provider's stock valued at $11,988,000 after buying an additional 163,271 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Invesco Quality Municipal Income Trust by 105.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 239,865 shares of the financial services provider's stock valued at $2,363,000 after buying an additional 122,849 shares during the period.

Invesco Quality Municipal Income Trust Trading Down 0.9%

Shares of IQI stock traded down $0.09 on Tuesday, hitting $9.79. 143,161 shares of the stock traded hands, compared to its average volume of 154,334. The firm's 50-day moving average price is $9.90 and its two-hundred day moving average price is $9.98. Invesco Quality Municipal Income Trust has a twelve month low of $9.06 and a twelve month high of $10.42.

Invesco Quality Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, April 14th will be given a dividend of $0.0631 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a c) annualized dividend and a dividend yield of 7.7%.

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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