Invesco Quality Municipal Income Trust (NYSE:IQI) Reaches New 1-Year High – Still a Buy?

Invesco Quality Municipal Income Trust (NYSE:IQI) reached a new 52-week high during trading on Tuesday . The company traded as high as $10.16 and last traded at $10.1650, with a volume of 69361 shares trading hands. The stock had previously closed at $10.08.

Invesco Quality Municipal Income Trust Stock Up 0.9%

The firm’s 50 day moving average is $10.01 and its 200-day moving average is $9.85.

Invesco Quality Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a $0.0631 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Tuesday, February 17th.

Insider Buying and Selling at Invesco Quality Municipal Income Trust

In other Invesco Quality Municipal Income Trust news, Portfolio Manager Jack Connelly sold 3,900 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were 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 $55,110. The trade was a 41.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IQI. Savant Capital LLC raised its position in shares of Invesco Quality Municipal Income Trust by 121.9% in the fourth quarter. Savant Capital LLC now owns 29,682 shares of the financial services provider’s stock worth $296,000 after buying an additional 16,307 shares in the last quarter. Pathfinder Wealth Consulting Inc. purchased a new position in Invesco Quality Municipal Income Trust during the fourth quarter valued at $200,000. IFP Advisors Inc bought a new stake in Invesco Quality Municipal Income Trust in the 4th quarter worth approximately $480,000. HighTower Advisors LLC grew its stake in shares of Invesco Quality Municipal Income Trust by 20.1% in the 4th quarter. HighTower Advisors LLC now owns 14,884 shares of the financial services provider’s stock worth $148,000 after buying an additional 2,492 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Invesco Quality Municipal Income Trust by 7.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,339 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 1,070 shares during the last quarter.

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.