Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Invesco Quality Municipal Income Trust (NYSE:IQI) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.03 and traded as low as $9.85. Invesco Quality Municipal Income Trust shares last traded at $9.8610, with a volume of 146,216 shares trading hands.

Invesco Quality Municipal Income Trust Trading Down 0.1%

The company’s fifty day simple moving average is $10.03 and its two-hundred day simple moving average is $9.97.

Invesco Quality Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th were given a dividend of $0.0631 per share. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a c) annualized dividend and a dividend yield of 7.7%.

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. lifted its holdings in Invesco Quality Municipal Income Trust by 7.4% during 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 buying an additional 92,863 shares during the last quarter. Guggenheim Capital LLC grew 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 acquiring an additional 163,271 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Invesco Quality Municipal Income Trust by 0.6% in the 4th quarter. LPL Financial LLC now owns 727,096 shares of the financial services provider’s stock valued at $7,242,000 after acquiring an additional 4,437 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Invesco Quality Municipal Income Trust by 13.0% in the 1st quarter. NewEdge Advisors LLC now owns 455,485 shares of the financial services provider’s stock valued at $4,382,000 after acquiring an additional 52,443 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Invesco Quality Municipal Income Trust by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 424,481 shares of the financial services provider’s stock valued at $4,228,000 after acquiring an additional 33,953 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.