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

Invesco Quality Municipal Income Trust (NYSE:IQI) shares 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 traded.

Invesco Quality Municipal Income Trust Stock Performance

The stock has a 50 day moving average price of $10.08 and a 200 day moving average price of $9.95.

Invesco Quality Municipal Income Trust Dividend Announcement

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

Insiders Place Their Bets

In related news, Portfolio Manager Jack Connelly sold 3,900 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $10.02, for a total transaction of $39,078.00. Following the completion of the transaction, the portfolio manager directly owned 5,500 shares of the company’s stock, valued at $55,110. This trade represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

Hedge funds have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC grew its position in shares of Invesco Quality Municipal Income Trust by 7.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,339 shares of the financial services provider’s stock worth $153,000 after buying an additional 1,070 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Invesco Quality Municipal Income Trust by 13.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,944 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 1,681 shares during the period. Compound Planning Inc. boosted its stake in Invesco Quality Municipal Income Trust by 10.2% during the third quarter. Compound Planning Inc. now owns 22,010 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 2,045 shares in the last quarter. HighTower Advisors LLC increased its stake in Invesco Quality Municipal Income Trust by 20.1% in the fourth quarter. HighTower Advisors LLC now owns 14,884 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 2,492 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Invesco Quality Municipal Income Trust in the third quarter valued at $27,000.

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.