Invesco Quality Municipal Income Trust (NYSE:IQI) Share Price Breaks Below Fifty Day Moving Average – What’s Next?

Invesco Quality Municipal Income Trust (NYSE:IQI)’s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $9.21 and traded as low as $9.02. Invesco Quality Municipal Income Trust shares last traded at $9.05, with a volume of 276,325 shares trading hands.

Invesco Quality Municipal Income Trust Price Performance

The stock has a 50 day moving average price of $9.21 and a two-hundred day moving average price of $9.79.

Invesco Quality Municipal Income Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a $0.0631 dividend. This is a drop from Invesco Quality Municipal Income Trust’s previous monthly dividend of $0.0631. This represents a $0.76 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date is Monday, November 16th.

Insiders Place Their Bets

In other Invesco Quality Municipal Income Trust news, Portfolio Manager Timothy O’Reilly sold 6,282 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.87, for a total value of $55,721.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Invesco Quality Municipal Income Trust

Several large investors have recently modified their holdings of the business. North Ground Capital bought a new position in Invesco Quality Municipal Income Trust during the 2nd quarter worth about $1,214,582. NewEdge Advisors LLC lifted its holdings in shares of Invesco Quality Municipal Income Trust by 23.2% in the second 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 in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Invesco Quality Municipal Income Trust during the second quarter worth about $1,016,000. Private Advisor Group LLC acquired a new position in shares of Invesco Quality Municipal Income Trust during the third quarter worth about $687,000. Finally, Bank of America Corp DE acquired a new position in shares of Invesco Quality Municipal Income Trust during the second quarter worth about $603,000.

About Invesco Quality Municipal Income Trust

Invesco Quality Municipal Income Trust (NYSE:IQI) is a diversified, closed-end management investment company. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, territories, and local governments in the United States. The trust’s portfolio may include general obligation bonds, revenue bonds, and other debt obligations issued to finance public infrastructure and services. In addition to pursuing tax-advantaged income, the fund may seek capital appreciation when consistent with its investment strategy.