Short Interest in Invesco Quality Municipal Income Trust (NYSE:IQI) Grows By 262.2%

Invesco Quality Municipal Income Trust (NYSE:IQI) saw a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 155,223 shares, an increase of 262.2% from the January 29th total of 42,861 shares. Based on an average trading volume of 166,325 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.3% of the shares of the company are short sold. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 166,325 shares, the days-to-cover ratio is presently 0.9 days.

Invesco Quality Municipal Income Trust Price Performance

NYSE:IQI traded up $0.02 during midday trading on Thursday, hitting $10.18. The company’s stock had a trading volume of 20,020 shares, compared to its average volume of 135,499. The firm’s 50 day moving average is $10.06 and its 200-day moving average is $9.92. Invesco Quality Municipal Income Trust has a fifty-two week low of $8.86 and a fifty-two week high of $10.42.

Invesco Quality Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a $0.0631 dividend. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Tuesday, February 17th.

Insiders Place Their Bets

In other news, Portfolio Manager Jack Connelly sold 3,900 shares of the 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 transaction, the portfolio manager directly owned 5,500 shares of the company’s stock, valued at approximately $55,110. This represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Invesco Quality Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of 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 acquiring an additional 122,849 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in 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. Centaurus Financial Inc. increased its holdings in Invesco Quality Municipal Income Trust by 126.4% in the 2nd quarter. Centaurus Financial Inc. now owns 98,412 shares of the financial services provider’s stock worth $923,000 after acquiring an additional 54,950 shares in the last quarter. North Ground Capital lifted its stake in Invesco Quality Municipal Income Trust by 61.3% in the 3rd quarter. North Ground Capital now owns 213,750 shares of the financial services provider’s stock valued at $2,105,000 after buying an additional 81,225 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in Invesco Quality Municipal Income Trust by 24.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 14,269 shares of the financial services provider’s stock worth $141,000 after buying an additional 2,759 shares in the last quarter.

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.