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

Invesco Quality Municipal Income Trust (NYSE:IQI) saw unusually-strong trading volume on Thursday . Approximately 264,602 shares were traded 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 firm has a 50 day moving average of $10.01 and a 200 day moving average of $9.99.

Invesco Quality Municipal Income Trust Dividend Announcement

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

Insider Buying and Selling at Invesco Quality Municipal Income Trust

In related news, Portfolio Manager Jack Connelly sold 3,900 shares of Invesco Quality Municipal Income Trust stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $10.02, for a total value of $39,078.00. Following the completion of the sale, the portfolio manager owned 5,500 shares of the company’s stock, valued at approximately $55,110. This trade represents a 41.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Invesco Quality Municipal Income Trust

Several large investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its holdings in Invesco Quality Municipal Income Trust by 46.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 845,114 shares of the financial services provider’s stock valued at $8,324,000 after acquiring an additional 268,480 shares during the period. NewEdge Advisors LLC grew its position in shares of Invesco Quality Municipal Income Trust by 182.6% in the fourth 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 in the last quarter. Ameriprise Financial Inc. grew its position in shares of Invesco Quality Municipal Income Trust by 144.1% in the second quarter. Ameriprise Financial Inc. now owns 311,786 shares of the financial services provider’s stock valued at $2,919,000 after purchasing an additional 184,049 shares in the last quarter. 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 valued at $11,988,000 after purchasing an additional 163,271 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in 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 purchasing 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.