Invesco Quality Municipal Income Trust (NYSE:IQI) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Invesco Quality Municipal Income Trust (NYSE:IQI)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.08 and traded as low as $10.05. Invesco Quality Municipal Income Trust shares last traded at $10.09, with a volume of 113,924 shares.

Invesco Quality Municipal Income Trust Stock Down 0.3%

The company’s 50 day moving average is $10.08 and its 200-day moving average is $9.94.

Invesco Quality Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.0631 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a c) annualized dividend and a yield of 7.5%.

Insider Activity at Invesco Quality Municipal Income Trust

In other news, Portfolio Manager Jack Connelly sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $10.02, for a total value of $39,078.00. Following the transaction, the portfolio manager owned 5,500 shares of the company’s stock, valued at approximately $55,110. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Invesco Quality Municipal Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. raised its stake in Invesco Quality Municipal Income Trust by 46.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 845,114 shares of the financial services provider’s stock valued at $8,324,000 after purchasing an additional 268,480 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Invesco Quality Municipal Income Trust by 182.6% in the 4th quarter. NewEdge Advisors LLC now owns 403,042 shares of the financial services provider’s stock valued at $4,014,000 after buying an additional 260,439 shares during the period. Ameriprise Financial Inc. raised its position in shares of Invesco Quality Municipal Income Trust by 144.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 311,786 shares of the financial services provider’s stock valued at $2,919,000 after buying an additional 184,049 shares in the last quarter. Guggenheim Capital LLC lifted its holdings 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 acquiring an additional 163,271 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Invesco Quality Municipal Income Trust by 105.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 239,865 shares of the financial services provider’s stock worth $2,363,000 after acquiring an additional 122,849 shares in the last quarter.

About Invesco Quality Municipal Income Trust

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.