Key Points
- Portfolio manager Jack Connelly sold 1,980 shares on Jan. 15 at an average price of $10.09 (about $19,978), after selling 3,900 shares on Jan. 7, reducing his ownership by 36% to 3,520 shares — total insider sales recently of 5,880 shares (~$59k).
- The trust declared a monthly dividend of $0.0631 per share (record/ex-dividend date Jan. 15, payable Jan. 30), which implies an annualized yield of about 7.5%.
- Several institutional investors — including Hennion & Walsh, Ameriprise, Advisors Asset Management and Raymond James — have recently increased their stakes in IQI, indicating institutional buying despite the insider sales.
Invesco Quality Municipal Income Trust (NYSE:IQI - Get Free Report) Portfolio Manager Jack Connelly sold 1,980 shares of the business's stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $10.09, for a total value of $19,978.20. Following the completion of the transaction, the portfolio manager directly owned 3,520 shares in the company, valued at approximately $35,516.80. This trade represents a 36.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Jack Connelly also recently made the following trade(s):
- On Wednesday, January 7th, Jack Connelly sold 3,900 shares of Invesco Quality Municipal Income Trust stock. The stock was sold at an average price of $10.02, for a total value of $39,078.00.
Invesco Quality Municipal Income Trust Stock Down 0.4%
Shares of IQI stock opened at $10.06 on Wednesday. The firm has a 50 day moving average of $10.01 and a 200-day moving average of $9.78. Invesco Quality Municipal Income Trust has a 52 week low of $8.86 and a 52 week high of $10.16.
Invesco Quality Municipal Income Trust Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be issued 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.
Hedge Funds Weigh In On Invesco Quality Municipal Income Trust
Several institutional investors have recently made changes to their positions in IQI. Hennion & Walsh Asset Management Inc. raised its holdings 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 acquiring an additional 268,480 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Invesco Quality Municipal Income Trust by 144.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 311,786 shares of the financial services provider's stock worth $2,919,000 after purchasing an additional 184,049 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 purchasing an additional 122,849 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Invesco Quality Municipal Income Trust in the third quarter valued at approximately $1,108,000. Finally, Raymond James Financial Inc. boosted its position in shares of Invesco Quality Municipal Income Trust by 7.4% during the second quarter. Raymond James Financial Inc. now owns 1,353,664 shares of the financial services provider's stock valued at $12,697,000 after buying an additional 92,863 shares during the last quarter.
About Invesco Quality Municipal Income Trust
(
Get Free Report)
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.
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