Invesco Quality Municipal Income Trust (NYSE:IQI) Sets New 52-Week Low – Here’s What Happened

Invesco Quality Municipal Income Trust (NYSE:IQI) shares hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $8.92 and last traded at $8.9530, with a volume of 661160 shares changing hands. The stock had previously closed at $9.34.

Invesco Quality Municipal Income Trust Price Performance

The stock’s 50-day simple moving average is $9.95 and its 200 day simple moving average is $9.92.

Invesco Quality Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be given a $0.0631 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.76 dividend on an annualized basis and a yield of 8.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. North Ground Capital acquired a new stake in shares of Invesco Quality Municipal Income Trust in the second quarter valued at $1,214,582. NewEdge Advisors LLC lifted its stake in Invesco Quality Municipal Income Trust by 23.2% during the 2nd quarter. NewEdge Advisors LLC now owns 561,365 shares of the financial services provider’s stock worth $5,681,000 after acquiring an additional 105,880 shares in the last quarter. Centaurus Financial Inc. acquired a new position in Invesco Quality Municipal Income Trust during the 2nd quarter worth about $1,016,000. Bank of America Corp DE purchased a new position in Invesco Quality Municipal Income Trust during the 2nd quarter valued at about $603,000. Finally, IFP Advisors Inc boosted its holdings in Invesco Quality Municipal Income Trust by 47.1% during the 2nd quarter. IFP Advisors Inc now owns 182,631 shares of the financial services provider’s stock valued at $1,848,000 after acquiring an additional 58,480 shares during the period.

About Invesco Quality Municipal Income Trust

Invesco Quality Municipal Income Trust (NYSE: IQI) is a closed-end investment company managed by Invesco Advisers. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal securities.

Its portfolio may include bonds and other debt obligations issued by states, municipalities, government authorities and other public entities throughout the United States. These securities generally finance public-purpose projects and services, such as transportation, education, utilities and healthcare facilities.