Invesco Quality Municipal Income Trust (IQI)
Financial Services · NYQ
Fundamentals
Valuation and ratings
Invesco Quality Municipal Income Trust trades at USD10.12, which is 29% below the USD13.09 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 58 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 29.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
IQI dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.441 | 7 |
| 2025 | USD0.756 | 12 |
| 2024 | USD0.637 | 12 |
| 2023 | USD0.447 | 12 |
| 2022 | USD0.550 | 12 |
| 2021 | USD0.617 | 12 |
| 2020 | USD0.603 | 12 |
| 2019 | USD0.617 | 12 |
| 2018 | USD0.674 | 12 |
| 2017 | USD0.672 | 12 |
| 2016 | USD0.768 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Invesco Quality Municipal Income Trust
Invesco Quality Municipal Income Trust is a closed-ended fixed income 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. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal securities which include municipal bonds, municipal notes, and municipal commercial paper. It employs fundamental analysis with bottom-up security selection approach to create its portfolio. The fund was previously known as Morgan Stanley Quality Municipal Income Trust. Invesco Quality Municipal Income Trust was formed on September 29, 1992 and is domiciled in the United States.
IQI passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
1 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Griffin, CITADEL ADVISORS LLC$99.7K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Invesco Quality Municipal Income Trust (IQI) undervalued?
Against our discounted cash flow estimate of USD13.09, IQI at USD10.12 is 29% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own IQI?
1 of the institutions we track reported a position in IQI in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is IQI's P/E ratio?
IQI trades at 29.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Invesco Quality Municipal Income Trust (IQI) pay a dividend?
Yes. Invesco Quality Municipal Income Trust yields 7.44% at the current share price. It has paid USD0.756 per share over the trailing twelve months. It has paid a dividend in each of the last 34 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.