Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Invesco Quality Municipal Income Trust (NYSE:IQI) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.08 and traded as low as $10.05. Invesco Quality Municipal Income Trust shares last traded at $10.09, with a volume of 113,924 shares trading hands.

Invesco Quality Municipal Income Trust Stock Performance

The business’s fifty day moving average price is $10.08 and its 200 day moving average price is $9.94.

Invesco Quality Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.0631 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a c) annualized dividend and a yield of 7.5%.

Insider Activity at Invesco Quality Municipal Income Trust

In other news, Portfolio Manager Jack Connelly sold 3,900 shares of the stock in a transaction dated 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 sale, the portfolio manager owned 5,500 shares of the company’s stock, valued at approximately $55,110. This represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Invesco Quality Municipal Income Trust

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Invesco Quality Municipal Income Trust by 3.3% during the 1st quarter. Royal Bank of Canada now owns 214,022 shares of the financial services provider’s stock worth $2,072,000 after purchasing an additional 6,738 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Invesco Quality Municipal Income Trust by 23.7% in the 1st quarter. NewEdge Advisors LLC now owns 112,245 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 21,515 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Invesco Quality Municipal Income Trust by 3.1% during the second quarter. Cetera Investment Advisers now owns 116,625 shares of the financial services provider’s stock worth $1,094,000 after buying an additional 3,467 shares during the period. Advisors Asset Management Inc. bought a new position in Invesco Quality Municipal Income Trust during the second quarter worth $1,098,000. Finally, Guggenheim Capital LLC raised its stake in Invesco Quality Municipal Income Trust by 2.6% during the second quarter. Guggenheim Capital LLC now owns 983,635 shares of the financial services provider’s stock worth $9,226,000 after buying an additional 25,067 shares during the last quarter.

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.