Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Invesco Quality Municipal Income Trust (NYSE:IQI – Get Free Report)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.06 and traded as low as $9.75. Invesco Quality Municipal Income Trust shares last traded at $9.86, with a volume of 289,160 shares.

Invesco Quality Municipal Income Trust Stock Performance

The stock’s 50 day moving average price is $10.06 and its 200 day moving average price is $9.95.

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Invesco Quality Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be issued a dividend of $0.0631 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Monday, September 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IQI. Royal Bank of Canada raised its stake in shares of Invesco Quality Municipal Income Trust by 3.3% during the 1st quarter. Royal Bank of Canada now owns 214,022 shares of the financial services provider’s stock worth $2,072,000 after purchasing an additional 6,738 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Invesco Quality Municipal Income Trust by 23.7% in the first quarter. NewEdge Advisors LLC now owns 112,245 shares of the financial services provider’s stock valued at $1,087,000 after buying an additional 21,515 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Invesco Quality Municipal Income Trust by 7.4% in the second quarter. Raymond James Financial Inc. now owns 1,353,664 shares of the financial services provider’s stock valued at $12,697,000 after buying an additional 92,863 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Invesco Quality Municipal Income Trust by 144.1% during the second quarter. Ameriprise Financial Inc. now owns 311,786 shares of the financial services provider’s stock worth $2,919,000 after buying an additional 184,049 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Invesco Quality Municipal Income Trust by 149.7% during the second quarter. Bank of America Corp DE now owns 47,922 shares of the financial services provider’s stock worth $450,000 after buying an additional 28,732 shares during the last quarter.

About Invesco Quality Municipal Income Trust

(Get Free Report)

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.

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