Short Interest in Invesco Quality Municipal Income Trust (NYSE:IQI) Rises By 531.7%

Key Points

• Short interest in Invesco Quality Municipal Income Trust (NYSE:IQI) surged 531.7% in July, rising to 332,124 shares as of July 15 from 52,573 shares on June 30.
• The stock was trading around $9.96, near its 50-day and 200-day moving averages, with a 12-month range of $9.16 to $10.42.
• The trust announced a monthly dividend of $0.0631 per share, payable July 31, implying an annualized yield of about 7.6%.

Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 332,124 shares, a growth of 531.7% from the June 30th total of 52,573 shares. Based on an average trading volume of 175,828 shares, the short-interest ratio is presently 1.9 days. Currently, 0.6% of the shares of the stock are sold short.

Invesco Quality Municipal Income Trust Stock Performance

Shares of NYSE IQI traded up $0.02 during mid-day trading on Friday, hitting $9.96. 156,970 shares of the stock were exchanged, compared to its average volume of 168,072. Invesco Quality Municipal Income Trust has a twelve month low of $9.16 and a twelve month high of $10.42. The stock's fifty day simple moving average is $10.00 and its two-hundred day simple moving average is $9.97.

Invesco Quality Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be issued a $0.0631 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in shares of Invesco Quality Municipal Income Trust by 182.6% during the fourth quarter. NewEdge Advisors LLC now owns 403,042 shares of the financial services provider's stock worth $4,014,000 after buying an additional 260,439 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of 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 purchasing an additional 184,049 shares during the period. Guggenheim Capital LLC boosted its position in shares of 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 worth $11,988,000 after purchasing an additional 163,271 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Invesco Quality Municipal Income Trust by 7.4% in the 2nd quarter. Raymond James Financial Inc. now owns 1,353,664 shares of the financial services provider's stock worth $12,697,000 after purchasing an additional 92,863 shares during the last quarter. Finally, Cottage Street Advisors LLC grew its stake in shares of Invesco Quality Municipal Income Trust by 550.0% during the first quarter. Cottage Street Advisors LLC now owns 65,000 shares of the financial services provider's stock worth $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 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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