Invesco Quality Municipal Income Trust (NYSE:IQI) Short Interest Update
by Kim Johansen · The Markets DailyInvesco Quality Municipal Income Trust (NYSE:IQI – Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 42,861 shares, a decline of 55.9% from the January 15th total of 97,191 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 134,134 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 134,134 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.
Invesco Quality Municipal Income Trust Price Performance
Shares of IQI stock traded up $0.08 during trading hours on Thursday, reaching $10.34. The company’s stock had a trading volume of 211,330 shares, compared to its average volume of 133,576. Invesco Quality Municipal Income Trust has a one year low of $8.86 and a one year high of $10.41. The firm’s fifty day simple moving average is $10.02 and its 200 day simple moving average is $9.86.
Invesco Quality Municipal Income Trust Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a $0.0631 dividend. The ex-dividend date is Tuesday, February 17th. This represents a c) annualized dividend and a yield of 7.3%.
Insider Buying and Selling at Invesco Quality Municipal Income Trust
In other Invesco Quality Municipal Income Trust news, Portfolio Manager Jack Connelly sold 3,900 shares of Invesco Quality Municipal Income Trust 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 directly owned 5,500 shares of the company’s stock, valued at $55,110. The trade was a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Invesco Quality Municipal Income Trust by 46.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 845,114 shares of the financial services provider’s stock worth $8,324,000 after purchasing an additional 268,480 shares during the period. Ameriprise Financial Inc. raised its stake in 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 worth $2,919,000 after buying an additional 184,049 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Invesco Quality Municipal Income Trust by 105.0% in the third quarter. Advisors Asset Management Inc. now owns 239,865 shares of the financial services provider’s stock worth $2,363,000 after buying an additional 122,849 shares during the period. Alpine Global Management LLC bought a new stake in Invesco Quality Municipal Income Trust during the 3rd quarter valued at approximately $1,108,000. Finally, Raymond James Financial Inc. boosted its position in Invesco Quality Municipal Income Trust by 7.4% during the 2nd quarter. Raymond James Financial Inc. now owns 1,353,664 shares of the financial services provider’s stock valued at $12,697,000 after acquiring an additional 92,863 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.