Bank of America Corp /De/ Acquires Shares of Invesco Quality Municipal Income Trust

Invesco Quality Municipal Income Trust, traded on the NYSE under the ticker IQI, has seen a significant stock acquisition by one of its major shareholders, Bank of America Corp /De/. On Tuesday, April 24th, the bank purchased 725 shares of IQI. The shares were bought at an average price of $13.94 each, leading to a total investment of $10,106.50. Following this transaction, Bank of America Corp now owns 725 shares in the trust, which are valued at approximately the same amount of $10,106.50. This acquisition marks a considerable increase in their holdings.

Price Performance of Invesco Quality Municipal Income Trust

As of Friday, the stock opened at $9.64. Over recent weeks, it has displayed some volatility, with its 50-day moving average at $10.08 and the 200-day moving average at $10.12. Throughout the past year, the trust has experienced a low of $9.23 and a high of $10.53.

Dividend Announcement by Invesco Quality Municipal Income Trust

The trust has also announced an upcoming monthly dividend, scheduled to be paid on Tuesday, December 31st. Shareholders recorded on Tuesday, December 17th, will receive a dividend of $0.0631. This dividend translates into an annualized payment of $0.76, providing a yield of 7.85%. The ex-dividend date is noted as Tuesday, December 17th.

Institutional Investment Trends

Recently, a number of institutional investors have been active with their investments in Invesco Quality Municipal Income Trust. Hennion & Walsh Asset Management Inc. expanded its holdings by 25.0% during the third quarter, acquiring an additional 210,578 shares, culminating in a total of 1,052,817 shares valued at around $10,991,000. Rothschild Investment LLC initiated a new stake in the trust during the second quarter, valued at approximately $1,803,000. Additionally, JFS Wealth Advisors LLC dramatically increased its ownership by 1,618.1%, now holding 143,790 shares worth about $1,501,000 after a purchase of 135,421 shares. Wealthspire Advisors LLC also acquired a fresh stake valued at around $764,000 during the same quarter. Lastly, Stratos Wealth Advisors LLC boosted its position by 33.4% in the third quarter, owning 266,271 shares valued at $2,780,000 after obtaining an additional 66,606 shares.

Overview of Invesco Quality Municipal Income Trust

Invesco Quality Municipal Income Trust is a closed-end fixed income mutual fund, managed by an array of entities within the Invesco family, including Invesco Advisers, Inc., INVESCO Asset Management divisions located in Germany and Japan, as well as Invesco Hong Kong Limited and Invesco Canada Ltd.

Conclusion and Further Considerations

The recent developments concerning both share acquisitions and dividend declarations reflect ongoing interest in the performance of Invesco Quality Municipal Income Trust within the financial marketplace. Investors may want to monitor future announcements and market performance.

stock, investment, dividend