Invesco Quality Municipal Income Trust (NYSE:IQI) Sets New 1-Year High – Time to Buy?

Invesco Quality Municipal Income Trust (NYSE:IQI) shares reached a new 52-week high on Tuesday . The stock traded as high as $10.15 and last traded at $10.1050, with a volume of 47385 shares traded. The stock had previously closed at $10.09.

Invesco Quality Municipal Income Trust Price Performance

The stock’s 50-day simple moving average is $9.99 and its 200 day simple moving average is $9.75.

Invesco Quality Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a dividend of $0.0631 per share. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Thursday, January 15th.

Insider Transactions at Invesco Quality Municipal Income Trust

In other Invesco Quality Municipal Income Trust news, Portfolio Manager Jack Connelly sold 3,900 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $55,110. The trade was a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Invesco Quality Municipal Income Trust by 3.3% during the 1st quarter. Royal Bank of Canada now owns 214,022 shares of the financial services provider’s stock worth $2,072,000 after acquiring an additional 6,738 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Invesco Quality Municipal Income Trust by 23.7% in the 1st quarter. NewEdge Advisors LLC now owns 112,245 shares of the financial services provider’s stock valued at $1,087,000 after acquiring an additional 21,515 shares in the last quarter. Riverbridge Partners LLC grew its position in Invesco Quality Municipal Income Trust by 4.5% in the second quarter. Riverbridge Partners LLC now owns 44,873 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 1,921 shares in the last quarter. River Street Advisors LLC acquired a new stake in Invesco Quality Municipal Income Trust in the 2nd quarter valued at $143,000. Finally, Olistico Wealth LLC bought a new stake in Invesco Quality Municipal Income Trust during the 2nd quarter worth about $110,000.

Invesco Quality Municipal Income Trust Company Profile

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.