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

Invesco Quality Municipal Income Trust (NYSE:IQI) saw strong trading volume on Thursday . 264,602 shares traded hands during trading, an increase of 81% from the previous session’s volume of 145,970 shares.The stock last traded at $9.51 and had previously closed at $9.66.

Invesco Quality Municipal Income Trust Stock Down 1.4%

The company’s 50 day moving average price is $10.01 and its 200-day moving average price is $9.99.

Invesco Quality Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a $0.0631 dividend. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Monday, March 16th.

Insider Activity at Invesco Quality Municipal Income Trust

In other news, Portfolio Manager Jack Connelly sold 3,900 shares of the business’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 in the company, valued at $55,110. The trade was a 41.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Invesco Quality Municipal Income Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Alpine Global Management LLC lifted its holdings in Invesco Quality Municipal Income Trust by 2.7% during the fourth quarter. Alpine Global Management LLC now owns 115,507 shares of the financial services provider’s stock worth $1,150,000 after acquiring an additional 3,007 shares during the period. Compound Planning Inc. grew its stake in Invesco Quality Municipal Income Trust by 28.5% in the 4th quarter. Compound Planning Inc. now owns 28,277 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 6,267 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Invesco Quality Municipal Income Trust during the 4th quarter valued at $109,000. NewEdge Advisors LLC increased its position in shares of Invesco Quality Municipal Income Trust by 182.6% during the 4th quarter. NewEdge Advisors LLC now owns 403,042 shares of the financial services provider’s stock valued at $4,014,000 after purchasing an additional 260,439 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake 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.

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.