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Invesco Quality Municipal Income Closed Fund (IQI)
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Upturn Advisory Summary
01/09/2026: IQI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 5.81% | Avg. Invested days 47 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 493.93M USD | Price to earnings Ratio 24.58 | 1Y Target Price - |
Price to earnings Ratio 24.58 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.72 | 52 Weeks Range 8.86 - 10.53 | Updated Date 06/29/2025 |
52 Weeks Range 8.86 - 10.53 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.11% | Basic EPS (TTM) 0.38 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 49.12% | Operating Margin (TTM) 87.25% |
Management Effectiveness
Return on Assets (TTM) 2.56% | Return on Equity (TTM) 3.44% |
Valuation
Trailing PE 24.58 | Forward PE - | Enterprise Value 759624896 | Price to Sales(TTM) 12.17 |
Enterprise Value 759624896 | Price to Sales(TTM) 12.17 | ||
Enterprise Value to Revenue 28.37 | Enterprise Value to EBITDA - | Shares Outstanding 52883800 | Shares Floating - |
Shares Outstanding 52883800 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 28.01 |
Upturn AI SWOT
Invesco Quality Municipal Income Closed Fund
Company Overview
History and Background
Invesco Quality Municipal Income Closed Fund (NYSE: VQG) is a closed-end investment fund managed by Invesco. It was established with the primary objective of providing current income that is exempt from federal income tax. The fund focuses on investing in a diversified portfolio of investment-grade municipal securities. Its evolution has been characterized by its consistent strategy of seeking income while managing credit risk within the municipal bond market.
Core Business Areas
- Municipal Bond Investment: The fund's core business is investing in a diversified portfolio of municipal bonds issued by state and local governments and their agencies. The primary goal is to generate tax-exempt income for shareholders.
- Closed-End Fund Structure: Operating as a closed-end fund, VQG issues a fixed number of shares that trade on a stock exchange. This structure allows the fund to maintain a stable capital base, unlike open-end funds.
Leadership and Structure
The fund is managed by Invesco, a global investment management company. The specific portfolio management team responsible for VQG is part of Invesco's fixed-income division. The organizational structure is typical of a large asset manager, with dedicated teams for portfolio management, research, compliance, and operations.
Top Products and Market Share
Key Offerings
- Competitors: BlackRock MuniYield Quality Fund (MYI), Nuveen Municipal Value Fund (NUV), PIMCO High Income Fund (PHK).
- Description: This is the flagship and sole product of the analyzed entity. It aims to provide tax-exempt income through investments in a diversified portfolio of investment-grade municipal bonds. Market share data for individual closed-end funds is difficult to ascertain directly as they compete within the broader municipal bond fund market. Key competitors include other closed-end municipal bond funds and actively managed municipal bond ETFs and mutual funds.
- Product Name 1: Invesco Quality Municipal Income Closed Fund (VQG)
Market Dynamics
Industry Overview
The municipal bond market is a significant segment of the fixed-income landscape, driven by the need for infrastructure development and government services at the state and local levels. The market is influenced by interest rate movements, economic conditions, and changes in tax laws. The closed-end fund structure in this space competes with open-end mutual funds and ETFs, offering potential for discount/premium trading to NAV.
Positioning
Invesco Quality Municipal Income Closed Fund is positioned as a provider of tax-exempt income for investors in higher tax brackets. Its focus on investment-grade securities aims to balance income generation with a moderate risk profile. Its competitive advantage lies in its established track record and Invesco's broad investment management capabilities.
Total Addressable Market (TAM)
The total addressable market for municipal bonds is substantial, with outstanding municipal debt in the trillions of dollars. For tax-exempt income funds, the TAM is directly related to the pool of investors seeking tax efficiency. VQG targets a significant portion of this market by offering a diversified portfolio managed by an experienced team.
Upturn SWOT Analysis
Strengths
- Focus on investment-grade municipal bonds for relative stability.
- Tax-exempt income generation, appealing to high-income investors.
- Managed by Invesco, a reputable global asset manager.
- Closed-end structure offers potential for trading at a discount to Net Asset Value (NAV).
Weaknesses
- Sensitivity to interest rate fluctuations.
- Potential for underperformance if credit quality of holdings deteriorates.
- Closed-end structure can trade at a premium, eroding returns.
- Limited diversification outside of municipal bonds.
Opportunities
- Potential for rising interest rates to be managed through active duration management.
- Increased demand for tax-exempt income as tax rates remain a concern for investors.
- Opportunities to acquire undervalued municipal bonds during market dislocations.
- Expansion into higher-yielding, albeit potentially riskier, municipal segments if market conditions allow.
Threats
- Sustained low interest rate environment reducing income potential.
- Deterioration of state and local government finances impacting credit quality.
- Changes in federal tax policy that reduce the attractiveness of tax-exempt income.
- Increased competition from other municipal bond funds (closed-end, open-end, ETFs).
Competitors and Market Share
Key Competitors
- BlackRock MuniYield Quality Fund (MYI)
- Nuveen Municipal Value Fund (NUV)
- PIMCO High Income Fund (PHK)
- Invesco Municipal Bond ETF (MUAG)
Competitive Landscape
VQG competes in a crowded space with other closed-end municipal bond funds, actively managed ETFs, and open-end mutual funds. Its advantages lie in its investment-grade focus and Invesco's brand. Its disadvantages may include management fees and the potential for its market price to trade at a discount or premium to its NAV, which can affect shareholder returns.
Growth Trajectory and Initiatives
Historical Growth: Growth for VQG is primarily measured by the growth in its NAV and its ability to maintain or increase distributions. Historically, the fund has aimed to provide steady income, with NAV growth being secondary to income generation. Market price growth is influenced by the fund's NAV and its discount/premium to NAV.
Future Projections: Future projections for VQG are highly dependent on the outlook for the municipal bond market, interest rates, and the broader economy. Projections would typically involve assumptions about average portfolio yield, expense ratios, and potential changes in the discount/premium to NAV. Analyst estimates focus on expected income generation and potential NAV performance.
Recent Initiatives: Recent initiatives for closed-end funds like VQG often involve portfolio adjustments to manage duration and credit risk in response to market conditions, as well as efforts to enhance shareholder value, potentially through share repurchase programs if trading at a significant discount.
Summary
Invesco Quality Municipal Income Closed Fund (VQG) is a stable, income-focused investment vehicle within the municipal bond market. Its strength lies in its tax-exempt income generation and Invesco's management expertise. However, it faces threats from interest rate volatility and competition. The fund needs to carefully manage credit risk and its discount/premium to NAV to ensure consistent shareholder returns.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Invesco Investor Relations
- Financial Data Providers (e.g., Refinitiv, Bloomberg - simulated for this response)
- SEC Filings
Disclaimers:
This JSON output is generated based on general knowledge and simulated financial data for illustrative purposes. It is not investment advice. Specific financial data and market share figures require real-time access and may vary. Investors should consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Invesco Quality Municipal Income Closed Fund
Exchange NYSE | Headquaters Atlanta, GA, United States | ||
IPO Launch date 1994-10-27 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
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.
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