Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Shares of Invesco Quality Municipal Income Trust (NYSE:IQI) passed below its fifty day moving average during trading on Thursday. The stock has a fifty 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 changing hands.

Invesco Quality Municipal Income Trust Stock Performance

The company has a 50 day moving average of $9.46 and a 200-day moving average of $9.78.

Invesco Quality Municipal Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be given a dividend of $0.0631 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.5%. This is a boost from Invesco Quality Municipal Income Trust’s previous monthly dividend of $0.0631.

Insiders Place Their Bets

In related news, Portfolio Manager Timothy O’Reilly sold 6,282 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $8.87, for a total transaction of $55,721.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Retirement Planning Group LLC acquired a new stake in shares of Invesco Quality Municipal Income Trust in the 3rd quarter worth about $121,000. Kercheville Advisors LLC lifted its position in Invesco Quality Municipal Income Trust by 10.5% in the 3rd quarter. Kercheville Advisors LLC now owns 21,000 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 2,000 shares during the last quarter. IFP Advisors Inc boosted its stake in Invesco Quality Municipal Income Trust by 19.2% during the 3rd quarter. IFP Advisors Inc now owns 217,664 shares of the financial services provider’s stock valued at $1,876,000 after purchasing an additional 35,033 shares during the period. Fortitude Advisory Group L.L.C. boosted its stake in Invesco Quality Municipal Income Trust by 9.8% during the 3rd quarter. Fortitude Advisory Group L.L.C. now owns 28,278 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 2,522 shares during the period. Finally, Hardin Capital Partners LLC grew its position in Invesco Quality Municipal Income Trust by 58.5% in the 3rd quarter. Hardin Capital Partners LLC now owns 51,500 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 19,000 shares during the last quarter.

About Invesco Quality Municipal Income Trust

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.