Invesco Quality Municipal Income Trust (NYSE:IQI) Sees Strong Trading Volume – Still a Buy?

Invesco Quality Municipal Income Trust (NYSE:IQI) shares saw unusually-strong trading volume on Friday . Approximately 132,074 shares traded hands during trading, a decline of 9% from the previous session’s volume of 145,033 shares.The stock last traded at $10.2450 and had previously closed at $10.23.

Invesco Quality Municipal Income Trust Stock Up 0.1%

The firm’s 50 day simple moving average is $10.06 and its 200 day simple moving average is $9.97.

Invesco Quality Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.0631 dividend. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IQI. Kestra Advisory Services LLC acquired a new position in Invesco Quality Municipal Income Trust during the 4th quarter worth $35,000. Cottage Street Advisors LLC acquired a new stake in Invesco Quality Municipal Income Trust in the fourth quarter worth about $100,000. International Assets Investment Management LLC bought a new position in Invesco Quality Municipal Income Trust in the 4th quarter valued at about $109,000. Mercer Global Advisors Inc. ADV bought a new position in Invesco Quality Municipal Income Trust in the 4th quarter valued at about $109,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Invesco Quality Municipal Income Trust by 13.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,944 shares of the financial services provider’s stock valued at $139,000 after buying an additional 1,681 shares during the period.

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.