Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Price Breaks Below Fifty Day Moving Average – Here’s What Happened

Invesco Quality Municipal Income Trust (NYSE:IQI) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.48 and traded as low as $8.96. Invesco Quality Municipal Income Trust shares last traded at $9.0110, with a volume of 215,713 shares.

Invesco Quality Municipal Income Trust Trading Up 0.3%

The company’s 50-day moving average is $9.48 and its 200 day moving average is $9.79.

Invesco Quality Municipal Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a dividend of $0.0631 per share. This represents a $0.76 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Wednesday, October 14th. This is an increase from Invesco Quality Municipal Income Trust’s previous monthly dividend of $0.0631.

Insider Activity at Invesco Quality Municipal Income Trust

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

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

Large investors have recently bought and sold shares of the business. Compound Planning Inc. grew its holdings in Invesco Quality Municipal Income Trust by 6.2% in the first quarter. Compound Planning Inc. now owns 30,041 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 1,764 shares during the period. Kercheville Advisors LLC increased its position in shares of Invesco Quality Municipal Income Trust by 10.5% in the third quarter. Kercheville Advisors LLC now owns 21,000 shares of the financial services provider’s stock valued at $181,000 after buying an additional 2,000 shares in the last quarter. Fortitude Advisory Group L.L.C. increased its position in shares of Invesco Quality Municipal Income Trust by 9.8% in the third quarter. Fortitude Advisory Group L.L.C. now owns 28,278 shares of the financial services provider’s stock valued at $244,000 after buying an additional 2,522 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Invesco Quality Municipal Income Trust by 7.1% during the 1st quarter. Centaurus Financial Inc. now owns 103,781 shares of the financial services provider’s stock worth $998,000 after buying an additional 6,860 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Invesco Quality Municipal Income Trust by 5.4% during the 1st quarter. Cetera Investment Advisers now owns 145,278 shares of the financial services provider’s stock worth $1,398,000 after buying an additional 7,461 shares during the period.

Invesco Quality Municipal Income Trust Company Profile

Invesco Quality Municipal Income Trust (NYSE:IQI) is a diversified, closed-end management investment company. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, territories, and local governments in the United States.

The trust’s portfolio may include general obligation bonds, revenue bonds, and other debt obligations issued to finance public infrastructure and services. In addition to pursuing tax-advantaged income, the fund may seek capital appreciation when consistent with its investment strategy.