Form 4: JPMorgan Chase Bank N.A. Reduces Stake in Invesco Quality Municipal Income Trust
SEC Form 4 Filing
JPMorgan Chase Bank N.A. reports the disposal of 316 variable rate muni term preferred shares in Invesco Quality Municipal Income Trust due to a redemption by the issuer.
Summary
- On May 31, 2024, JPMorgan Chase Bank, N.A. disposed of 316 variable rate muni term preferred shares (VMTP Shares) of Invesco Quality Municipal Income Trust (IQI).
- The disposal was a result of a redemption by the issuer.
- The redemption price was $100,377.81421 per share, including a liquidation preference of $100,000.00 and accrued dividends of $377.81421.
- Following the transaction, JPMorgan Chase Bank, N.A. holds 1,789 shares.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing detailing a transaction. It doesn't convey strong positive or negative sentiment, but the redemption suggests a stable financial position for the fund.
Industry Context
This filing indicates a change in holdings by a major institutional investor in a municipal income trust, which could reflect broader portfolio adjustments or views on the municipal bond market.
Stakeholder Impact
- The redemption of preferred shares could impact the fund's capital structure and potentially affect returns for common shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/31/2024 | Date of transaction: JPMorgan Chase Bank, N.A. disposed of 316 variable rate muni term preferred shares. |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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