Invesco Quality Municipal Income Trust (NYSE:IQI) Shares Cross Below 50 Day Moving Average – Time to Sell?

Invesco Quality Municipal Income Trust (NYSE:IQI)’s stock price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $9.21 and traded as low as $9.02. Invesco Quality Municipal Income Trust shares last traded at $9.05, with a volume of 276,325 shares trading hands.

Invesco Quality Municipal Income Trust Trading Down 1.5%

The firm has a fifty day moving average price of $9.17 and a 200 day moving average price of $9.78.

Invesco Quality Municipal Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a dividend of $0.0631 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.76 annualized dividend and a yield of 8.5%. This is a decrease from Invesco Quality Municipal Income Trust’s previous monthly dividend of $0.0631.

Insider Transactions at Invesco Quality Municipal Income Trust

In other Invesco Quality Municipal Income Trust news, Portfolio Manager Timothy O’Reilly sold 6,282 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.87, for a total value of $55,721.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Invesco Quality Municipal Income Trust

A number of large investors have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new position in shares of Invesco Quality Municipal Income Trust in the 3rd quarter valued at approximately $3,953,000. Private Advisor Group LLC acquired a new stake in Invesco Quality Municipal Income Trust in the 3rd quarter worth approximately $687,000. Commonwealth Equity Services LLC grew its position in Invesco Quality Municipal Income Trust by 16.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 239,126 shares of the financial services provider’s stock worth $2,061,000 after purchasing an additional 32,956 shares during the last quarter. Retirement Planning Group LLC purchased a new stake in Invesco Quality Municipal Income Trust during the 3rd quarter worth approximately $121,000. Finally, Kercheville Advisors LLC increased its stake in Invesco Quality Municipal Income Trust by 10.5% during the 3rd quarter. Kercheville Advisors LLC now owns 21,000 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 2,000 shares in the last quarter.

About Invesco Quality Municipal Income Trust

Invesco Quality Municipal Income Trust is a U.S. closed-end investment fund managed by Invesco Advisers, Inc. Its objective is to provide income exempt from regular federal income tax while seeking to preserve capital. The trust invests primarily in municipal securities issued by state and local governments and related public entities. These bonds may finance projects and services such as schools, transportation, utilities and public facilities. Its portfolio focuses on municipal debt considered investment grade when purchased.