Invesco Quality Municipal Income Trust (NYSE:IQI) Hits New 1-Year High – Should You Buy?

Invesco Quality Municipal Income Trust (NYSE:IQI)’s share price 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. The stock had previously closed at $10.09.

Invesco Quality Municipal Income Trust Stock Up 0.3%

The stock’s fifty day moving average price is $9.99 and its 200-day moving average price 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 paid a $0.0631 dividend. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Thursday, January 15th.

Insider Activity 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 shares were sold at an average price of $10.02, for a total transaction 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. The trade was a 41.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Invesco Quality Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Invesco Quality Municipal Income Trust by 3.3% in the 1st quarter. Royal Bank of Canada now owns 214,022 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 6,738 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Invesco Quality Municipal Income Trust by 23.7% during the 1st quarter. NewEdge Advisors LLC now owns 112,245 shares of the financial services provider’s stock worth $1,087,000 after buying an additional 21,515 shares during the last quarter. Riverbridge Partners LLC boosted its stake 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 buying an additional 1,921 shares in the last quarter. River Street Advisors LLC bought a new position in Invesco Quality Municipal Income Trust in the second quarter valued at about $143,000. Finally, Olistico Wealth LLC acquired a new position in Invesco Quality Municipal Income Trust during the second quarter worth about $110,000.

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.