Invesco Quality Municipal Income Trust (NYSE:IQI) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

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

Invesco Quality Municipal Income Trust Stock Up 1.2%

The stock has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $9.95.

Invesco Quality Municipal Income Trust Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. increased its position in shares of Invesco Quality Municipal Income Trust by 7.4% during 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 acquiring an additional 92,863 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Invesco Quality Municipal Income Trust by 15.7% during the 4th quarter. Guggenheim Capital LLC now owns 1,203,595 shares of the financial services provider’s stock worth $11,988,000 after purchasing an additional 163,271 shares during the period. LPL Financial LLC increased its holdings in Invesco Quality Municipal Income Trust by 0.6% in the 4th quarter. LPL Financial LLC now owns 727,096 shares of the financial services provider’s stock valued at $7,242,000 after purchasing an additional 4,437 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Invesco Quality Municipal Income Trust by 23.2% in the 2nd quarter. NewEdge Advisors LLC now owns 561,365 shares of the financial services provider’s stock valued at $5,681,000 after purchasing an additional 105,880 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Invesco Quality Municipal Income Trust by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 424,481 shares of the financial services provider’s stock valued at $4,228,000 after purchasing an additional 33,953 shares during the period.

Invesco Quality Municipal Income Trust Company Profile

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.