Invesco Quality Municipal Income Trust (NYSE:IQI) sees a significant drop in short-term interest

Invesco Quality Municipal Income Trust (NYSE:IQI – Get Rating) was the target of a sharp drop in short-term interest rates in August. As of August 15, there was short interest totaling 17,700 shares, down 60.8% from the July 31 total of 45,200 shares. Based on an average daily volume of 117,300 shares, the day-to-cover ratio is currently 0.2 days.

Invesco Quality Municipal Income Trust Institutional Trading

Several large investors have recently increased or reduced their stake in the company. Captrust Financial Advisors bought a new position in Invesco Quality Municipal Income Trust during Q2 for $101,000. Creative Planning bought a new position in Invesco Quality Municipal Income Trust during Q2 worth $194,000. Karpus Management Inc. increased its stake in Invesco Quality Municipal Income Trust by 643.4% during the 2nd quarter. Karpus Management Inc. now owns 1,374,217 shares of the financial services provider valued at $14,031,000 after purchasing an additional 1,189,351 shares last quarter. Wells Fargo & Company MN increased its stake in shares of Invesco Quality Municipal Income Trust by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 321,795 shares of the financial services provider worth $3,286,000 after acquiring 2,648 additional shares last quarter. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Invesco Quality Municipal Income Trust during the 2nd quarter at a value of $402,000. 17.04% of the shares are currently held by institutional investors and hedge funds.

Invesco’s investment-grade municipal income trust shares fall 1.0%

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Shares of Invesco Quality Municipal Income Trust traded down $0.10 on Friday, hitting $10.25. 45,803 shares of the company were traded, against an average volume of 139,248. The company’s 50-day moving average is $10.39 and its two-hundred-day moving average is $10.74. Invesco Quality Municipal Income Trust has a 1-year low of $9.66 and a 1-year high of $13.82.

Invesco Quality Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, August 31. Investors of record on Monday, August 15 will receive a dividend of $0.0446. This represents an annualized dividend of $0.54 and a yield of 5.22%. The ex-dividend date is Friday, August 12.

Invesco Quality Municipal Income Trust Company Profile

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Invesco Quality Municipal Income Trust is a closed-end mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, INVESCO Asset Management (Japan) Limited, Invesco Hong Kong Limited, INVESCO Senior Secured Management, Inc and Invesco Canada Ltd.

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