Invesco Quality Municipal Income Trust (NYSE:IQI – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 370,396 shares, a decline of 43.5% from the September 15th total of 655,647 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 358,729 shares, the short-interest ratio is currently 1.0 days.
Invesco Quality Municipal Income Trust Stock Up 2.2%
NYSE IQI traded up $0.19 during trading on Thursday, reaching $8.91. 265,208 shares of the company’s stock were exchanged, compared to its average volume of 169,160. The company has a 50 day moving average price of $9.62 and a two-hundred day moving average price of $9.81. Invesco Quality Municipal Income Trust has a 1 year low of $8.47 and a 1 year high of $10.42.
Invesco Quality Municipal Income Trust Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.0631 per share. This is a boost from Invesco Quality Municipal Income Trust’s previous monthly dividend of $0.0631. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.76 annualized dividend and a dividend yield of 8.5%.
Insider Activity at Invesco Quality Municipal Income Trust
In related news, Portfolio Manager Timothy O’Reilly sold 6,282 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $8.87, for a total transaction of $55,721.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Hedge Funds Weigh In On Invesco Quality Municipal Income Trust
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Equitable Holdings Inc. purchased a new stake in shares of Invesco Quality Municipal Income Trust during the 2nd quarter worth approximately $172,000. Kercheville Advisors LLC boosted its holdings in shares of Invesco Quality Municipal Income Trust by 31.2% in the 1st quarter. Kercheville Advisors LLC now owns 21,000 shares of the financial services provider’s stock valued at $202,000 after buying an additional 5,000 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Invesco Quality Municipal Income Trust in the 2nd quarter valued at $254,000. Fortitude Advisory Group L.L.C. grew its position in shares of Invesco Quality Municipal Income Trust by 23.5% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 25,756 shares of the financial services provider’s stock valued at $261,000 after buying an additional 4,895 shares during the last quarter. Finally, Compound Planning Inc. grew its position in shares of Invesco Quality Municipal Income Trust by 6.2% in the 1st quarter. Compound Planning Inc. now owns 30,041 shares of the financial services provider’s stock valued at $289,000 after buying an additional 1,764 shares during the last quarter.
About Invesco Quality Municipal Income Trust
Invesco Quality Municipal Income Trust (NYSE: IQI) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties and other governmental entities in the United States.
The trust’s portfolio may include investment-grade and below-investment-grade municipal bonds, subject to the fund’s investment policies and risk considerations. These securities can finance public projects and essential services such as transportation, education, utilities, health care and other infrastructure.
Invesco Quality Municipal Income Trust is managed by Invesco Advisers, Inc, an investment adviser within Invesco Ltd.
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