UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number |
|
811-06591 | ||
Invesco Quality Municipal Income Trust | ||||
(Exact name of registrant as specified in charter) | ||||
1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309 | ||||
(Address of principal executive offices) (Zip code) | ||||
Sheri Morris 1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309 | ||||
(Name and address of agent for service) |
Registrants telephone number, including area code: (713) 626-1919
Date of fiscal year end: 02/28
Date of reporting period: 08/31/19
Item 1. Reports to Stockholders.
Semiannual Report to Shareholders | August 31, 2019 |
![]() Bruce Crockett
|
![]() Andrew Schlossberg
|
2 | Invesco Quality Municipal Income Trust |
3 | Invesco Quality Municipal Income Trust |
4 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Municipal Obligations–155.02%(a) | |||||
Alabama–2.52% | |||||
Alabama (State of) Special Care Facilities Financing Authority (Ascension Health Senior Credit Group); Series 2016 B, Ref. RB | 5.00% | 11/15/2046 | $ 4,390 | $ 5,160,577 | |
Alabaster (City of), AL Board of Education; | |||||
Series 2014 A, GO Wts. (INS- AGM)(b) | 5.00% | 09/01/2039 | 1,130 | 1,314,281 | |
Series 2014 A, GO Wts. (INS -AGM)(b) | 5.00% | 09/01/2044 | 1,130 | 1,310,246 | |
Birmingham (City of), AL Airport Authority; Series 2010, RB (INS -AGM)(b) | 5.25% | 07/01/2030 | 2,100 | 2,161,992 | |
Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging); | |||||
Series 2016, RB | 5.25% | 06/01/2025 | 700 | 759,269 | |
Series 2016, RB | 5.75% | 06/01/2045 | 25 | 28,222 | |
Lower Alabama Gas District (The); Series 2016 A, RB (c) | 5.00% | 09/01/2046 | 2,400 | 3,502,536 | |
Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining); Series 2019 A, Ref. IDR (d) | 5.25% | 05/01/2044 | 820 | 948,346 | |
Water Works Board of the City of Birmingham/The; Series 2011, RB (INS -AGM)(b)(c) | 5.00% | 01/01/2036 | 3,060 | 3,220,252 | |
18,405,721 | |||||
Alaska–0.60% | |||||
Alaska (State of) Industrial Development & Export Authority (Providence Health Services); Series 2011 A, RB (c) | 5.50% | 10/01/2041 | 4,065 | 4,365,444 | |
Arizona–4.48% | |||||
Arizona (State of) Health Facilities Authority (Phoenix Children’s Hospital); Series 2012, Ref. RB | 5.00% | 02/01/2042 | 2,050 | 2,199,711 | |
Arizona (State of) Health Facilities Authority (Scottsdale Lincoln Hospital); Series 2014, Ref. RB | 5.00% | 12/01/2042 | 1,965 | 2,246,054 | |
Arizona (State of) Industrial Development Authority (Great Laked Senior Living Community); | |||||
Series 2019 A, RB | 5.00% | 01/01/2036 | 400 | 475,340 | |
Series 2019 A, RB | 5.00% | 01/01/2037 | 1,000 | 1,184,630 | |
Arizona (State of) Industrial Development Authority (Leman Academy of Excellence); Series 2017 A, Ref. RB (d) | 5.00% | 07/01/2037 | 675 | 700,697 | |
Arizona (State of) Transportation Board; Series 2011 A, Ref. RB (c) | 5.00% | 07/01/2036 | 3,450 | 3,694,985 | |
Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus); | |||||
Series 2017, Ref. RB | 5.00% | 11/15/2031 | 1,220 | 1,346,648 | |
Series 2017, Ref. RB | 5.00% | 11/15/2045 | 835 | 902,393 | |
La Paz (County of), AZ Industrial Development Authority (Charter School Solutions- Harmony Public Schools); Series 2018 A, RB | 5.00% | 02/15/2048 | 700 | 809,452 | |
Maricopa County Pollution Control Corp. (Southern California Education Co.); Series 2000 B, Ref. RB | 5.00% | 06/01/2035 | 1,110 | 1,135,608 | |
Mesa (City of), AZ; Series 2013, RB (c) | 5.00% | 07/01/2032 | 7,600 | 8,364,712 | |
Phoenix (City of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2014 A, RB (d) | 6.50% | 07/01/2034 | 450 | 521,770 | |
Phoenix (City of), AZ Industrial Development Authority (Rowan University); Series 2012, RB | 5.00% | 06/01/2042 | 2,780 | 2,984,664 | |
Pima (County of), AZ Industrial Development Authority (Edkey Charter Schools); Series 2013, Ref. RB | 6.00% | 07/01/2033 | 1,000 | 1,013,580 | |
Pima (County of), AZ Industrial Development Authority (Grande Innovations Academy); Series 2018, RB (d) | 5.25% | 07/01/2048 | 1,125 | 1,168,571 | |
Pima (County of), AZ Industrial Development Authority (Tucson Electric Power Co.); Series 2010 A, IDR | 5.25% | 10/01/2040 | 2,525 | 2,618,400 | |
Yuma (City of), AZ Industrial Development Authority (Regional Medical Center); | |||||
Series 2014 A, RB | 5.00% | 08/01/2020 | 500 | 517,570 | |
Series 2014 A, RB | 5.00% | 08/01/2021 | 800 | 855,288 | |
32,740,073 |
5 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
California–22.16% | |||||
Alhambra Unified School District (Election of 2004); | |||||
Series 2009 B, GO Bonds (INS - AGC)(b)(e) | 0.00% | 08/01/2035 | $ 3,570 | $ 2,454,661 | |
Series 2009 B, GO Bonds (INS -AGC)(b)(e) | 0.00% | 08/01/2036 | 5,770 | 3,838,262 | |
Bay Area Toll Authority (San Francisco Bay Area); Series 2017 F-1, RB (c) | 5.00% | 04/01/2056 | 2,280 | 2,761,559 | |
Beverly Hills Unified School District (Election of 2008); | |||||
Series 2009, GO Bonds (e) | 0.00% | 08/01/2026 | 1,390 | 1,262,704 | |
Series 2009, GO Bonds (e) | 0.00% | 08/01/2031 | 2,680 | 2,136,014 | |
California (County of), CA Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2006 C, RB (e) | 0.00% | 06/01/2055 | 10,115 | 617,116 | |
California (State of); | |||||
Series 2012, GO Bonds | 5.25% | 04/01/2035 | 4,305 | 4,763,698 | |
Series 2012, GO Bonds | 5.00% | 09/01/2036 | 2,460 | 2,730,994 | |
Series 2012, Ref. GO Bonds | 5.00% | 02/01/2032 | 2,600 | 2,838,108 | |
California (State of) Community Housing Agency (Annadel Apartments); Series 2019 A, RB (d) | 5.00% | 04/01/2049 | 790 | 888,410 | |
California (State of) Health Facilities Financing Authority (City of Hope); Series 2012 A, RB | 5.00% | 11/15/2032 | 3,500 | 3,884,580 | |
California (State of) Infrastructure & Economic Development Bank (c)(f)(g) | 5.00% | 01/01/2028 | 3,300 | 4,364,184 | |
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing Project); Series 2018, RB | 5.00% | 05/15/2035 | 1,185 | 1,466,532 | |
California (State of) Municipal Finance Authority (Linxs APM); Series 2018 A, RB (h) | 5.00% | 12/31/2043 | 885 | 1,071,894 | |
California (State of) Pollution Control Finance Authority; | |||||
Series 2012, RB (d)(h) | 5.00% | 07/01/2027 | 1,230 | 1,350,048 | |
Series 2012, RB (d)(h) | 5.00% | 07/01/2030 | 1,450 | 1,580,688 | |
Series 2012, RB (d)(h) | 5.00% | 07/01/2037 | 3,195 | 3,447,884 | |
California (State of) Public Works Board (Various Capital); Series 2013 I, RB | 5.00% | 11/01/2020 | 1,000 | 1,046,650 | |
California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center); | |||||
Series 2014, RB | 5.25% | 12/01/2044 | 780 | 877,328 | |
Series 2016 A, RB (d) | 5.00% | 12/01/2041 | 1,245 | 1,414,656 | |
Series 2016 A, RB (d) | 5.25% | 12/01/2056 | 950 | 1,086,420 | |
California Infrastructure & Economic Development Bank; Series 2003 A, RB (INS -AMBAC)(b)(c) | 5.00% | 07/01/2036 | 1,700 | 2,248,216 | |
Clovis Unified School District (Election of 2004); Series 2004 A, GO Bonds (INS - NATL)(b)(e) | 0.00% | 08/01/2029 | 695 | 578,581 | |
Dry Creek Joint Elementary School District (Election of 2008-Measure E); | |||||
Series 2009, GO Bonds (e) | 0.00% | 08/01/2040 | 4,685 | 2,642,153 | |
Series 2009, GO Bonds (e) | 0.00% | 08/01/2041 | 4,965 | 2,710,592 | |
Series 2009, GO Bonds (e) | 0.00% | 08/01/2042 | 5,265 | 2,768,811 | |
Series 2009, GO Bonds (e) | 0.00% | 08/01/2043 | 3,460 | 1,742,629 | |
Series 2009, GO Bonds (e) | 0.00% | 08/01/2044 | 4,825 | 2,351,850 | |
East Bay Municipal Utility District; Series 2010 A, Ref. RB (c) | 5.00% | 06/01/2036 | 4,770 | 4,916,725 | |
El Segundo Unified School District (Election of 2008); | |||||
Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2031 | 1,775 | 1,381,731 | |
Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2032 | 1,980 | 1,492,128 | |
Golden State Tobacco Securitization Corp.; | |||||
Series 2013 A, RB | 5.00% | 06/01/2030 | 3,250 | 3,718,325 | |
Series 2018 A-1, Ref. RB | 5.00% | 06/01/2047 | 675 | 692,320 | |
Series 2018 A-2, Ref. RB | 5.00% | 06/01/2047 | 2,350 | 2,410,301 | |
Los Angeles (City of), CA Department of Airports (Los Angeles International Airport); Series 2010 A, RB (c) | 5.00% | 05/15/2035 | 6,000 | 6,167,520 | |
Los Angeles (City of), CA Department of Water & Power; Series 2012 A, RB (c) | 5.00% | 07/01/2043 | 6,510 | 7,201,362 | |
Menifee Union School District (Election of 2008); Series 2009 C, GO Bonds (INS -AGC)(b)(e) | 0.00% | 08/01/2034 | 1,985 | 1,385,153 | |
Moreland School District (Crossover Series 14); Series 2006 C, Ref. GO Bonds (INS -AMBAC)(b)(e) | 0.00% | 08/01/2029 | 3,955 | 3,302,188 | |
Mt. San Antonio Community College District (Election 2008); Series 2013 A, GO Bonds (i) | 6.25% | 08/01/2043 | 1,900 | 1,938,000 | |
Oak Grove School District (Election of 2008); Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2028 | 2,875 | 2,447,229 |
6 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
California–(continued) | |||||
Patterson Joint Unified School District (Election of 2008); | |||||
Series 2009 B, GO Bonds (INS -AGM)(b)(e) | 0.00% | 08/01/2036 | $ 4,025 | $ 2,641,970 | |
Series 2009 B, GO Bonds (INS -AGM)(b)(e) | 0.00% | 08/01/2037 | 1,590 | 1,010,111 | |
Poway Unified School District (Election of 2008 - School Facilities Improvement District No. 2007-1); | |||||
Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2027 | 4,005 | 3,538,337 | |
Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2031 | 5,000 | 3,957,000 | |
Regents of the University of California; Series 2013 AI, RB (c) | 5.00% | 05/15/2033 | 4,000 | 4,555,680 | |
San Buenaventura (City of), CA (Community Memorial Health System); Series 2011, RB | 7.50% | 12/01/2041 | 2,085 | 2,334,116 | |
San Diego (City of), CA Community College District (Election of 2006); Series 2011, GO Bonds (c) | 5.00% | 08/01/2036 | 6,790 | 7,330,348 | |
San Diego (County of), CA Regional Airport Authority; Series 2010 A, RB | 5.00% | 07/01/2034 | 875 | 902,939 | |
San Francisco (City & County of), CA Airport Commission (San Francisco International Airport); | |||||
Series 2011 F, Ref. RB (h) | 5.00% | 05/01/2025 | 1,000 | 1,061,890 | |
Series 2011 F, Ref. RB (h) | 5.00% | 05/01/2026 | 1,995 | 2,118,131 | |
Series 2011 G, Ref. RB (f)(g) | 5.25% | 05/03/2021 | 3,615 | 3,874,702 | |
Series 2011 G, Ref. RB | 5.25% | 05/01/2027 | 1,385 | 1,481,604 | |
Series 2019 A, Ref. RB (h) | 5.00% | 05/01/2036 | 1,110 | 1,400,420 | |
San Francisco (City & County of), CA Public Utilities Commission; Series 2009 A, RB (f)(g) | 5.00% | 11/01/2019 | 2,500 | 2,516,300 | |
San Francisco (City & County of), CA Public Utilities Commission (Water System Improvement Program); Subseries 2011 A, RB (c) | 5.00% | 11/01/2036 | 4,320 | 4,693,550 | |
San Jose Evergreen Community College District (Election of 2004); Series 2008 B, GO Bonds (INS -AGM)(b)(e) | 0.00% | 09/01/2030 | 3,300 | 2,692,371 | |
Santa Margarita Water District (Community Facilities District No. 2013-1); Series 2013, RB | 5.50% | 09/01/2032 | 590 | 658,174 | |
Silicon Valley Tobacco Securitization Authority (Santa Clara); Series 2007 A, RB (e) | 0.00% | 06/01/2041 | 3,295 | 975,056 | |
William S. Hart Union High School District (Election of 2008); | |||||
Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2032 | 15,570 | 11,869,167 | |
Series 2009 A, GO Bonds (e) | 0.00% | 08/01/2033 | 5,725 | 4,237,702 | |
161,827,772 | |||||
Colorado–3.65% | |||||
Colorado (State of) Health Facilities Authority (Adventhealth Obligated); Series 2019, Ref. RB | 4.00% | 11/15/2043 | 1,980 | 2,267,932 | |
Colorado (State of) Health Facilities Authority (CommonSpirit Health); | |||||
Series 2019 A-1, Ref. RB | 4.00% | 08/01/2044 | 1,585 | 1,756,370 | |
Series 2019 A-2, Ref. RB | 5.00% | 08/01/2044 | 790 | 963,460 | |
Colorado (State of) Health Facilities Authority (Evangelical Lutheran Good Samaritan Society (The)); Series 2017, Ref. RB (f)(g) | 5.00% | 06/01/2027 | 555 | 700,632 | |
Colorado (State of) Health Facilities Authority (SCL Health System); Series 2013 A, RB (c) | 5.50% | 01/01/2035 | 3,900 | 4,533,906 | |
Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3); Series 2019, RB | 6.00% | 01/15/2041 | 3,200 | 3,305,344 | |
Colorado (State of) Science and Technology Park Metropolitan District No. 1; Series 2018, Ref. RB | 5.00% | 12/01/2033 | 500 | 537,245 | |
Denver (City & County of), CO; | |||||
Series 2013 B, RB | 5.25% | 11/15/2032 | 5,000 | 5,746,150 | |
Series 2018 A, Ref. RB (c)(h) | 5.25% | 12/01/2048 | 4,160 | 5,190,515 | |
Neu Towne Metropolitan District; Series 2018 A, Ref. GO Bonds | 5.38% | 12/01/2046 | 665 | 702,679 | |
Prairie Center Metropolitan District No. 3; Series 2017 A, Ref. RB (d) | 5.00% | 12/15/2041 | 910 | 969,296 | |
26,673,529 | |||||
Connecticut–0.62% | |||||
Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare); Series 2011 A, RB | 5.00% | 07/01/2041 | 4,300 | 4,528,373 | |
District of Columbia–2.45% | |||||
District of Columbia; | |||||
Series 2006 B-1, RB (INS -NATL)(b) | 5.00% | 02/01/2031 | 5,455 | 5,469,238 | |
Series 2009 A, RB (c) | 5.25% | 12/01/2027 | 3,040 | 3,070,826 |
7 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
District of Columbia–(continued) | |||||
District of Columbia (Provident Group - Howard Properties LLC); Series 2013, RB | 5.00% | 10/01/2045 | $ 1,910 | $ 1,965,810 | |
Metropolitan Washington Airports Authority; Series 2009 B, RB (INS - BHAC)(b) | 5.00% | 10/01/2029 | 1,000 | 1,002,940 | |
Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement); Series 2014 A, Ref. RB | 5.00% | 10/01/2053 | 5,930 | 6,379,197 | |
17,888,011 | |||||
Florida–10.21% | |||||
Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs); Series 2011 A, RB | 8.13% | 11/15/2041 | 1,000 | 1,009,060 | |
Broward (County of), FL; | |||||
Series 2012 A, RB | 5.00% | 10/01/2037 | 2,145 | 2,372,627 | |
Series 2013 C, RB | 5.25% | 10/01/2038 | 2,500 | 2,846,675 | |
Series 2015 A, RB (h) | 5.00% | 10/01/2045 | 1,010 | 1,168,964 | |
Series 2017, RB (c)(h) | 5.00% | 10/01/2047 | 3,450 | 4,137,758 | |
Cape Coral (City of), FL Health Facilities Authority (Gulf Care, Inc.); Series 2015, Ref. RB (d) | 6.00% | 07/01/2045 | 240 | 265,363 | |
Capital Trust Agency (Sarasota-Manatee Jewish Housing Council, Inc.); Series 2017, Ref. RB (d) | 5.00% | 07/01/2046 | 1,250 | 1,341,888 | |
Citizens Property Insurance Corp.; Series 2012 A-1, RB | 5.00% | 06/01/2021 | 5,110 | 5,450,939 | |
Davie (Town of), FL (Nova Southeastern University); Series 2013 A, RB | 6.00% | 04/01/2042 | 1,250 | 1,416,563 | |
Florida (State of) North Broward Hospital District; Series 2017 B, Ref. RB | 5.00% | 01/01/2048 | 2,850 | 3,274,479 | |
Florida (State of) Ports Financing Commission (State Transportation Trust Fund); Series 2011 B, Ref. RB (h) | 5.13% | 06/01/2027 | 995 | 1,059,625 | |
Hillsborough (County of), FL Aviation Authority (Tampa International Airport); Series 2018 E, RB (h) | 5.00% | 10/01/2048 | 1,960 | 2,394,610 | |
Martin (County of), FL Health Facilities Authority (Martin Memorial Medical Center); Series 2012, RB (f)(g) | 5.00% | 11/15/2021 | 4,630 | 5,019,800 | |
Miami Beach (City of), FL Health Facilities Authority (Mount Sinai Medical Center); Series 2014, Ref. RB | 5.00% | 11/15/2039 | 845 | 959,886 | |
Miami-Dade (County of), FL; | |||||
Series 2012 A, Ref. RB (f)(g)(h) | 5.00% | 10/01/2022 | 1,000 | 1,104,530 | |
Series 2012 B, Ref. RB (INS -AGM)(b) | 5.00% | 10/01/2035 | 1,750 | 1,937,565 | |
Series 2016 A, Ref. RB | 5.00% | 10/01/2041 | 1,170 | 1,405,977 | |
Miami-Dade (County of), FL (Miami International Airport-Hub of the Americas); Series 2009 B, RB (f)(g) | 5.00% | 10/01/2019 | 2,850 | 2,858,465 | |
Miami-Dade (County of), FL Educational Facilities Authority (University of Miami); Series 2018 A, RB (c) | 5.00% | 04/01/2053 | 3,650 | 4,374,270 | |
Miami-Dade (County of), FL Expressway Authority; Series 2010 A, Ref. RB | 5.00% | 07/01/2040 | 2,500 | 2,576,550 | |
Miami-Dade (County of), FL Health Facilities Authority (Miami Children’s Hospital); | |||||
Series 2010, Ref. RB (f)(g) | 6.00% | 08/01/2020 | 880 | 917,954 | |
Series 2010, Ref. RB | 6.00% | 08/01/2030 | 315 | 327,559 | |
Miami-Dade (County of), FL Industrial Development Authority (Waste Management, Inc.); Series 2018 B, RB (SIFMA Municipal Swap Index + 0.80%)(g)(h)(j) | 2.08% | 11/01/2021 | 555 | 555,000 | |
Orange (County of), FL; Series 2012 B, Ref. RB (c) | 5.00% | 01/01/2031 | 7,855 | 8,508,222 | |
Orlando (City of), FL Greater Orlando Aviation Authority; Series 2017 A, RB (h) | 5.00% | 10/01/2047 | 935 | 1,119,102 | |
Palm Beach (County of), FL Health Facilities Authority (BRRH Corp. Obligated Group); Series 2014, Ref. RB (f)(g) | 5.00% | 12/01/2024 | 1,125 | 1,314,754 | |
Palm Beach (County of), FL Health Facilities Authority (Jupiter Medical Center, Inc.); Series 2013 A, RB | 5.00% | 11/01/2043 | 2,030 | 2,175,835 | |
Palm Beach (County of), FL Solid Waste Authority; | |||||
Series 2009, RB (f)(g) | 5.50% | 10/01/2019 | 2,700 | 2,709,045 | |
Series 2016, RB (c) | 5.00% | 10/01/2031 | 3,330 | 3,583,380 | |
Putnam (County of), FL Development Authority (Seminole Electric Cooperative); Series 2018 B, Ref. PCR | 5.00% | 03/15/2042 | 790 | 955,442 | |
Sumter (County of), FL Industrial Development Authority (Central Florida Health Alliance); | |||||
Series 2014 A, RB | 5.00% | 07/01/2025 | 500 | 572,650 | |
Series 2014 A, RB | 5.00% | 07/01/2027 | 500 | 569,685 | |
Tallahassee (City of), FL (Tallahassee Memorial Health Care, Inc.); Series 2016, RB | 5.00% | 12/01/2055 | 1,270 | 1,439,837 |
8 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Florida–(continued) | |||||
Tampa Bay Water; Series 2001 A, Ref. RB (INS -NATL)(b) | 6.00% | 10/01/2029 | $ 2,000 | $ 2,854,900 | |
74,578,959 | |||||
Georgia–1.22% | |||||
Augusta (City of), GA Development Authority; Series 2018, RB | 4.00% | 07/01/2037 | 2,955 | 3,217,404 | |
Brookhaven Development Authority (Children’s Healthcare of Atlanta, Inc.); Series 2019 A, RB | 4.00% | 07/01/2049 | 1,575 | 1,784,884 | |
Burke (County of), GA Development Authority (Oglethorpe Power Vogtle); Series 2013 A, PCR (g) | 2.40% | 04/01/2020 | 3,200 | 3,218,624 | |
Georgia (State of) Municipal Electric Authority (Plant Vogtle Units 3 & 4); Series 2019 A, RB | 5.00% | 01/01/2049 | 610 | 708,814 | |
8,929,726 | |||||
Hawaii–1.92% | |||||
Hawaii (State of); | |||||
Series 2010 A, RB | 5.00% | 07/01/2039 | 4,100 | 4,210,618 | |
Series 2015 A, RB (h) | 5.00% | 07/01/2041 | 780 | 909,449 | |
Series 2015 A, RB (h) | 5.00% | 07/01/2045 | 1,545 | 1,793,853 | |
Hawaii (State of) Department of Budget & Finance (Hawaii Pacific Health Obligated Group); | |||||
Series 2010 B, RB (f)(g) | 5.75% | 07/01/2020 | 1,630 | 1,691,777 | |
Series 2013 A, Ref. RB | 5.50% | 07/01/2043 | 2,000 | 2,253,220 | |
Hawaii (State of) Department of Transportation (Airports Division); Series 2013, COP (h) | 5.00% | 08/01/2020 | 3,055 | 3,159,237 | |
14,018,154 | |||||
Idaho–0.44% | |||||
Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.); | |||||
Series 2017 A, Ref. RB | 5.00% | 11/15/2032 | 700 | 758,135 | |
Series 2017 A, Ref. RB | 5.25% | 11/15/2037 | 980 | 1,064,123 | |
Regents of the University of Idaho; Series 2011, Ref. RB (g) | 5.25% | 04/01/2021 | 1,300 | 1,374,854 | |
3,197,112 | |||||
Illinois–18.12% | |||||
Chicago (City of), IL; | |||||
Series 1993 B, Ref. GO Bonds (INS -AGM)(b) | 5.13% | 01/01/2022 | 1,675 | 1,743,407 | |
Series 2002 B, GO Bonds | 5.50% | 01/01/2037 | 615 | 694,790 | |
Series 2005 D, Ref. GO Bonds | 5.50% | 01/01/2040 | 385 | 432,682 | |
Series 2007 A, Ref. GO Bonds (INS -AGM)(b) | 5.00% | 01/01/2037 | 3,465 | 3,474,494 | |
Series 2007 E, Ref. GO Bonds | 5.50% | 01/01/2042 | 310 | 347,503 | |
Series 2012 A, GO Bonds | 5.00% | 01/01/2033 | 1,580 | 1,660,406 | |
Series 2012, RB | 5.00% | 01/01/2042 | 2,030 | 2,151,374 | |
Series 2014, RB | 5.00% | 11/01/2044 | 790 | 884,587 | |
Series 2014, Ref. RB | 5.00% | 01/01/2029 | 1,000 | 1,075,790 | |
Series 2015 A, GO Bonds | 5.50% | 01/01/2033 | 3,085 | 3,512,704 | |
Series 2017 A, Ref. GO Bonds | 6.00% | 01/01/2038 | 1,850 | 2,220,814 | |
Chicago (City of), IL (Midway Airport); | |||||
Series 2013 B, Ref. RB | 5.00% | 01/01/2021 | 3,200 | 3,360,608 | |
Series 2014 A, Ref. RB (h) | 5.00% | 01/01/2041 | 1,125 | 1,249,695 | |
Chicago (City of), IL (O’Hare International Airport); | |||||
Series 2015 C, RB (h) | 5.00% | 01/01/2046 | 775 | 880,873 | |
Series 2015 D, RB | 5.00% | 01/01/2046 | 540 | 619,321 | |
Series 2017 D, RB (c)(h) | 5.00% | 01/01/2042 | 2,500 | 2,952,300 | |
Series 2017 D, RB | 5.25% | 01/01/2042 | 1,240 | 1,510,320 | |
Chicago (City of), IL Board of Education; | |||||
Series 2017 H, GO Bonds | 5.00% | 12/01/2046 | 1,825 | 2,037,904 | |
Series 2018 A, Ref. GO Bonds (INS -AGM)(b) | 5.00% | 12/01/2031 | 625 | 764,213 | |
Series 2018 C, Ref. GO Bonds | 5.00% | 12/01/2022 | 950 | 1,027,149 | |
Series 2018 C, Ref. GO Bonds | 5.00% | 12/01/2023 | 500 | 552,315 |
9 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Illinois–(continued) | |||||
Chicago (City of), IL Metropolitan Water Reclamation District (Green Bonds); Series 2016 E, GO Bonds | 5.00% | 12/01/2045 | $ 1,605 | $ 1,881,991 | |
Chicago (City of), IL Transit Authority; | |||||
Series 2011, RB (c)(k) | 5.25% | 12/01/2036 | 8,970 | 9,579,242 | |
Series 2014, RB | 5.00% | 12/01/2044 | 3,380 | 3,797,633 | |
Cook (County of), IL Forest Preserve District; | |||||
Series 2012 B, Ref. GO Bonds (c) | 5.00% | 12/15/2032 | 2,540 | 2,723,921 | |
Series 2012 B, Ref. GO Bonds (c) | 5.00% | 12/15/2037 | 2,540 | 2,707,843 | |
Illinois (State of); | |||||
First Series 2001, GO Bonds (INS -NATL)(b) | 6.00% | 11/01/2026 | 2,000 | 2,376,200 | |
Series 2006, GO Bonds | 5.50% | 01/01/2030 | 975 | 1,226,579 | |
Series 2012 A, GO Bonds | 5.00% | 01/01/2031 | 1,115 | 1,174,351 | |
Series 2013, GO Bonds (INS -AGM)(b) | 5.25% | 07/01/2029 | 1,960 | 2,198,493 | |
Series 2014, GO Bonds | 5.00% | 05/01/2029 | 1,000 | 1,109,120 | |
Series 2014, GO Bonds | 5.00% | 05/01/2036 | 750 | 819,975 | |
Series 2017 D, GO Bonds | 5.00% | 11/01/2024 | 4,950 | 5,551,821 | |
Series 2018 A, Ref. GO Bonds | 5.00% | 10/01/2021 | 790 | 840,884 | |
Series 2018 A, Ref. GO Bonds | 5.00% | 10/01/2022 | 555 | 603,918 | |
Illinois (State of) Finance Authority (Benedictine University); | |||||
Series 2013 A, RB | 5.00% | 10/01/2020 | 1,000 | 1,027,080 | |
Series 2013 A, RB | 5.38% | 10/01/2022 | 1,180 | 1,214,999 | |
Illinois (State of) Finance Authority (Centegra Health System); Series 2014 A, RB | 5.00% | 09/01/2039 | 1,300 | 1,493,141 | |
Illinois (State of) Finance Authority (OSF Healthcare System); | |||||
Series 2010, Ref. RB (f)(g) | 6.00% | 05/15/2020 | 1,685 | 1,741,431 | |
Series 2010, Ref. RB | 6.00% | 05/15/2039 | 270 | 280,419 | |
Series 2015 A, Ref. RB | 5.00% | 11/15/2045 | 2,165 | 2,466,000 | |
Illinois (State of) Finance Authority (Peace Village); Series 2013, RB | 6.25% | 08/15/2028 | 1,000 | 1,088,990 | |
Illinois (State of) Finance Authority (Rush University Medical Center); Series 2015 A, Ref. RB | 5.00% | 11/15/2038 | 1,870 | 2,141,000 | |
Illinois (State of) Finance Authority (Swedish Covenant Hospital); | |||||
Series 2010 A, Ref. RB (f)(g) | 5.75% | 02/15/2020 | 5,020 | 5,123,563 | |
Series 2010 A, Ref. RB (f)(g) | 6.00% | 02/15/2020 | 2,620 | 2,676,985 | |
Illinois (State of) Finance Authority (The University of Chicago Medical Center); Series 2011 C, RB (c) | 5.50% | 08/15/2041 | 1,440 | 1,529,424 | |
Illinois (State of) Finance Authority (University of Chicago); Series 2013 A, RB (c) | 5.25% | 10/01/2052 | 3,390 | 3,779,409 | |
Illinois (State of) Metropolitan Pier & Exposition Authority; Series 2002, RB (INS- AGM)(b)(e) | 0.00% | 12/15/2029 | 2,500 | 1,956,975 | |
Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); | |||||
Series 2002 A, RB (INS -NATL)(b)(i) | 5.75% | 06/15/2026 | 8,480 | 9,417,718 | |
Series 2010, RB (f)(g) | 5.50% | 06/15/2020 | 560 | 579,046 | |
Series 2010, RB | 5.50% | 06/15/2050 | 1,740 | 1,773,356 | |
Illinois (State of) Sports Facilities Authority; Series 2014, Ref. RB (INS -AGM)(b) | 5.00% | 06/15/2027 | 3,500 | 4,001,235 | |
Illinois (State of) Toll Highway Authority; Series 2013 A, RB (c) | 5.00% | 01/01/2038 | 10,050 | 11,109,170 | |
Railsplitter Tobacco Settlement Authority; Series 2010, RB (f)(g) | 5.50% | 06/01/2021 | 4,275 | 4,597,762 | |
Sales Tax Securitization Corp.; Series 2018 A, Ref. RB (c) | 5.00% | 01/01/2048 | 3,960 | 4,551,624 | |
132,294,547 | |||||
Indiana–3.44% | |||||
Indiana (State of) Finance Authority (CWA Authority); Series 2011 B, RB | 5.25% | 10/01/2031 | 3,000 | 3,235,230 | |
Indiana (State of) Finance Authority (Ohio River Bridges East End Crossing); | |||||
Series 2013 A, RB (h) | 5.00% | 07/01/2035 | 500 | 555,635 | |
Series 2013 A, RB (h) | 5.00% | 07/01/2048 | 525 | 576,072 | |
Series 2013, RB (h) | 5.00% | 07/01/2040 | 3,480 | 3,841,468 | |
Indiana (State of) Finance Authority (Ohio Valley Electric Corp.); Series 2012 A, RB | 5.00% | 06/01/2039 | 2,690 | 2,829,745 | |
Indiana (State of) Municipal Power Agency; Series 2013 A, RB (f)(g) | 5.25% | 07/01/2023 | 1,000 | 1,158,270 |
10 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Indiana–(continued) | |||||
Indianapolis Local Public Improvement Bond Bank; | |||||
Series 2011 K, RB | 5.00% | 06/01/2027 | $ 3,000 | $ 3,185,190 | |
Series 2013 F, RB (c) | 5.00% | 02/01/2030 | 4,500 | 5,033,160 | |
Valparaiso (City of), IN (Pratt Paper, LLC); Series 2013, RB (h) | 5.88% | 01/01/2024 | 925 | 1,018,508 | |
Whiting (City of), IN (BP Products North America); Series 2019, Ref. RB (g)(h) | 5.00% | 06/05/2026 | 3,000 | 3,656,460 | |
25,089,738 | |||||
Iowa–1.09% | |||||
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); | |||||
Series 2013, RB (d) | 5.88% | 12/01/2027 | 1,000 | 1,051,130 | |
Series 2013, Ref. RB (g) | 5.25% | 12/01/2037 | 1,160 | 1,262,869 | |
Series 2019, Ref. RB | 3.13% | 12/01/2022 | 555 | 564,407 | |
Iowa (State of) Finance Authority (Lifespace Communities, Inc.); Series 2018 A, RB | 5.00% | 05/15/2043 | 790 | 907,536 | |
Iowa (State of) Tobacco Settlement Authority; | |||||
Series 2005 C, RB | 5.50% | 06/01/2042 | 1,620 | 1,620,372 | |
Series 2005 C, RB | 5.63% | 06/01/2046 | 1,030 | 1,030,227 | |
Series 2005 E, RB (e) | 0.00% | 06/01/2046 | 11,725 | 1,538,789 | |
7,975,330 | |||||
Kansas–0.60% | |||||
Kansas (State of) Development Finance Authority (Adventist Health System); | |||||
Series 2009, RB (f)(g) | 5.50% | 11/15/2019 | 35 | 35,290 | |
Series 2009, Ref. RB | 5.50% | 11/15/2029 | 1,620 | 1,634,094 | |
Wichita (City of), KS (Presbyterian Manors, Inc.); | |||||
Series 2013 IV-A, RB | 6.38% | 05/15/2043 | 1,500 | 1,622,805 | |
Series 2018 I, Ref. RB | 5.00% | 05/15/2047 | 1,000 | 1,072,790 | |
4,364,979 | |||||
Kentucky–2.60% | |||||
Kentucky (State of) Economic Development Finance Authority (Catholic Health Initiatives); Series 2011 B, RB (SIFMA Municipal Swap Index + 1.40%)(g)(j) | 2.68% | 02/01/2025 | 670 | 680,030 | |
Kentucky (State of) Economic Development Finance Authority (Next Generation Kentucky Information Highway); | |||||
Series 2015 A, RB | 5.00% | 07/01/2040 | 1,220 | 1,357,836 | |
Series 2015 A, RB | 5.00% | 01/01/2045 | 895 | 992,707 | |
Kentucky (State of) Economic Development Finance Authority (Owensboro Health, Inc.); Series 2017 A, Ref. RB | 5.00% | 06/01/2045 | 935 | 1,067,443 | |
Kentucky (State of) Economic Development Finance Authority (Owensboro Medical Health System, Inc.); | |||||
Series 2010 A, RB (f)(g) | 6.00% | 06/01/2020 | 1,900 | 1,966,956 | |
Series 2010 A, RB (f)(g) | 6.38% | 06/01/2020 | 1,625 | 1,686,750 | |
Series 2010 A, RB (f)(g) | 6.50% | 06/01/2020 | 2,050 | 2,129,622 | |
Kentucky (State of) Municipal Power Agency (Prarie State); Series 2019 A, Ref. RB | 5.00% | 09/01/2037 | 1,190 | 1,434,878 | |
Kentucky (State of) Turnpike Authority (Revitalization); Series 2012 A, RB (f)(g) | 5.00% | 07/01/2022 | 1,860 | 2,063,391 | |
Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.); Series 2013 A, RB | 5.50% | 10/01/2033 | 3,000 | 3,427,590 | |
Warren (County of), KY (Bowling Green-Warren County Community Hospital Corp.); Series 2013, Ref. RB | 5.00% | 04/01/2035 | 2,000 | 2,197,980 | |
19,005,183 | |||||
Louisiana–1.74% | |||||
Lafayette (City of), LA Public Trust Financing Authority (Ragin’ Cajun Facilities, Inc. - Housing & Parking); Series 2010, RB (f)(g) | 5.25% | 10/01/2020 | 2,450 | 2,559,417 |
11 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Louisiana–(continued) | |||||
Louisiana (State of) Energy & Power Authority (LEPA Unit No. 1); | |||||
Series 2013 A, RB (INS -AGM)(b) | 5.25% | 06/01/2028 | $ 2,000 | $ 2,275,820 | |
Series 2013 A, RB (INS -AGM)(b) | 5.25% | 06/01/2031 | 2,000 | 2,270,860 | |
New Orleans (City of), LA; Series 2014, Ref. RB | 5.00% | 12/01/2021 | 1,000 | 1,076,320 | |
Tobacco Settlement Financing Corp.; | |||||
Series 2013 A, Ref. RB | 5.50% | 05/15/2030 | 770 | 796,834 | |
Series 2013 A, Ref. RB | 5.25% | 05/15/2031 | 770 | 814,429 | |
Series 2013 A, Ref. RB | 5.25% | 05/15/2032 | 1,465 | 1,591,796 | |
Series 2013 A, Ref. RB | 5.25% | 05/15/2033 | 1,235 | 1,340,358 | |
12,725,834 | |||||
Maryland–1.08% | |||||
Howard (County of), MD (Downtown Columbia); | |||||
Series 2017 A, RB (d) | 4.38% | 02/15/2039 | 1,000 | 1,067,950 | |
Series 2017 A, RB (d) | 4.50% | 02/15/2047 | 500 | 532,490 | |
Maryland (State of) Health & Higher Educational Facilities Authority (LifeBridge Health); Series 2016, Ref. RB | 5.00% | 07/01/2047 | 705 | 823,193 | |
Maryland (State of) Health & Higher Educational Facilities Authority (Peninsula Regional Medical Center); Series 2015, Ref. RB | 5.00% | 07/01/2045 | 1,435 | 1,633,331 | |
Maryland Economic Development Corp. (Terminal); Series 2010 B, RB (f)(g) | 5.75% | 06/01/2020 | 2,440 | 2,523,351 | |
Prince Georges (County of), MD (Collington Episcopal Life Care Community, Inc.); | |||||
Series 2017, Ref. RB | 5.00% | 04/01/2028 | 670 | 747,673 | |
Series 2017, Ref. RB | 5.00% | 04/01/2032 | 500 | 548,470 | |
7,876,458 | |||||
Massachusetts–3.73% | |||||
Massachusetts (Commonwealth of) School Building Authority; Series 2011 B, RB (c) | 5.00% | 10/15/2035 | 5,325 | 5,743,439 | |
Massachusetts (Commonwealth of) Transportation Fund Revenue; Series 2016 B, RB | 4.00% | 06/01/2046 | 2,385 | 2,647,684 | |
Massachusetts (State of) (Consolidated Loan of 2019); Series 2019, GO Bonds | 5.00% | 05/01/2047 | 3,000 | 3,769,980 | |
Massachusetts (State of) Department of Transportation (Contract Assistance); Series 2010 B, RB | 5.00% | 01/01/2035 | 2,010 | 2,034,461 | |
Massachusetts (State of) Development Finance Agency (Berklee College of Music); Series 2007, RB | 5.00% | 10/01/2032 | 165 | 165,495 | |
Massachusetts (State of) Development Finance Agency (Emerson College); Series 2016 A, RB | 5.00% | 01/01/2047 | 1,550 | 1,802,092 | |
Massachusetts (State of) Development Finance Agency (Partners Healthcare); | |||||
Series 2012, RB (f)(g) | 5.00% | 07/01/2021 | 2,890 | 3,095,219 | |
Series 2012, RB | 5.00% | 07/01/2031 | 2,730 | 2,913,101 | |
Massachusetts (State of) Development Finance Agency (Tufts Medical Center); Series 2011 I, RB (f)(g) | 6.75% | 01/01/2021 | 1,225 | 1,315,937 | |
Massachusetts (State of) Port Authority; | |||||
Series 2019 A, Ref. RB (h) | 5.00% | 07/01/2037 | 1,000 | 1,262,730 | |
Series 2019 C, RB (h) | 5.00% | 07/01/2044 | 2,000 | 2,485,400 | |
27,235,538 | |||||
Michigan–3.96% | |||||
Detroit Downtown Development Authority; Series 2018 A, RB (INS -AGM)(b)(c)(k) | 5.00% | 07/01/2038 | 1,500 | 1,691,910 | |
Grand Rapids Economic Development Corp. (Beacon Hill at Eastgate); Series 2017 A, Ref. RB | 5.00% | 11/01/2052 | 1,185 | 1,270,142 | |
Lansing (City of), MI Board of Water & Light; Series 2011 A, RB | 5.00% | 07/01/2037 | 3,400 | 3,627,630 | |
Michigan (State of) Building Authority (Facilities Program); Series 2016 I, Ref. RB (c) | 5.00% | 04/15/2041 | 2,655 | 3,187,460 | |
Michigan (State of) Finance Authority (Beaumont Health Credit Group); Series 2016, RB | 5.00% | 11/01/2044 | 1,710 | 1,981,086 | |
Michigan (State of) Finance Authority (Bronson Healthcare Group); Series 2020 A, Ref. RB | 5.00% | 05/15/2036 | 1,585 | 1,833,671 | |
Michigan (State of) Finance Authority (Detroit Water & Sewerage Department); | |||||
Series 2014 C-1, Ref. RB | 5.00% | 07/01/2044 | 1,130 | 1,223,779 | |
Series 2014 C-6, Ref. RB | 5.00% | 07/01/2033 | 565 | 650,100 | |
Series 2014 D-4, Ref. RB | 5.00% | 07/01/2029 | 565 | 663,796 | |
Series 2015, Ref. RB | 5.00% | 07/01/2035 | 1,165 | 1,365,671 |
12 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Michigan–(continued) | |||||
Michigan (State of) Finance Authority (MidMichigan Health Credit Group); Series 2014, Ref. RB | 5.00% | 06/01/2039 | $ 2,070 | $ 2,345,455 | |
Michigan (State of) Finance Authority (Trinity Health Credit); Series 2017 MI, Ref. RB (c) | 5.00% | 12/01/2046 | 3,575 | 4,275,414 | |
Michigan (State of) Strategic Fund (Canterbury Health Care, Inc.); Series 2016, RB (d) | 5.00% | 07/01/2026 | 700 | 753,991 | |
Michigan (State of) Tobacco Settlement Finance Authority; Series 2007 A, RB | 6.00% | 06/01/2048 | 3,180 | 3,195,964 | |
Western Michigan University; | |||||
Series 2013, Ref. RB | 5.25% | 11/15/2030 | 400 | 463,356 | |
Series 2013, Ref. RB | 5.25% | 11/15/2031 | 350 | 405,079 | |
28,934,504 | |||||
Minnesota–0.24% | |||||
Bethel (City of), MN (Spectrum High School); Series 2017 A, Ref. RB | 4.25% | 07/01/2047 | 425 | 452,973 | |
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP -FHLMC)(l)(m) | 1.28% | 10/01/2033 | 1,280 | 1,280,000 | |
1,732,973 | |||||
Mississippi–0.68% | |||||
Mississippi Business Finance Corp. (Chevron USA, Inc.); Series 2010 G, VRD RB (l) | 1.28% | 11/01/2035 | 5,000 | 5,000,000 | |
Missouri–1.50% | |||||
Kansas City (City of), MO Industrial Development Authority (Downtown Redevelopment District); Series 2011 A, Ref. RB | 5.50% | 09/01/2028 | 1,970 | 2,129,255 | |
Kansas City (City of), MO Industrial Development Authority (Kansas City International Airport); | |||||
Series 2019 A, RB (h) | 5.00% | 03/01/2044 | 950 | 1,169,478 | |
Series 2019 B, RB (h) | 5.00% | 03/01/2046 | 1,580 | 1,935,042 | |
Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights); Series 2017 A, Ref. RB | 5.25% | 05/15/2050 | 465 | 522,804 | |
Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Service); Series A, RB | 5.00% | 02/01/2034 | 330 | 376,721 | |
Missouri (State of) Health & Educational Facilities Authority (St. Louis College of Pharmacy); Series 2013, RB | 5.00% | 05/01/2020 | 1,000 | 1,020,160 | |
St. Louis (County of), MO Industrial Development Authority (Friendship Village of Sunset Hills); Series 2013 A, RB | 5.50% | 09/01/2033 | 1,375 | 1,540,220 | |
St. Louis (County of), MO Industrial Development Authority (Friendship Village West County); Series 2018 A, RB | 5.00% | 09/01/2038 | 1,975 | 2,265,661 | |
10,959,341 | |||||
Nebraska–1.88% | |||||
Central Plains Energy Project (No. 3); Series 2012, RB (n) | 5.00% | 09/01/2032 | 5,500 | 6,000,280 | |
Lincoln (County of), NE Hospital Authority No. 1 (Great Plains Regional Medical Center); Series 2012, Ref. RB | 5.00% | 11/01/2032 | 2,500 | 2,660,175 | |
Omaha (City of), NE Public Power District; Series 2011 B, RB (c) | 5.00% | 02/01/2036 | 4,800 | 5,063,616 | |
13,724,071 | |||||
Nevada–0.51% | |||||
Clark (County of), NV; Series 2013 A, Ref. RB (h) | 5.00% | 07/01/2028 | 2,000 | 2,235,220 | |
Clark (County of), NV (Las Vegas-McCarran International Airport); Series 2010 A, RB | 5.13% | 07/01/2034 | 1,500 | 1,518,915 | |
3,754,135 | |||||
New Jersey–5.60% | |||||
Garden State Preservation Trust; Series 2005 A, RB (INS -AGM)(b) | 5.75% | 11/01/2028 | 2,485 | 3,198,220 | |
New Jersey (State of) Economic Development Authority; | |||||
Series 2005 N-1, Ref. RB (INS- NATL)(b)(c)(k) | 5.50% | 09/01/2022 | 3,555 | 3,950,956 | |
Series 2005, Ref. RB (INS - AMBAC)(b) | 5.50% | 09/01/2024 | 2,000 | 2,357,640 | |
Series 2013, RB (h) | 5.00% | 07/01/2023 | 1,750 | 1,972,897 | |
New Jersey (State of) Economic Development Authority (Provident Group-Montclair Properties LLC-Montclair State University Student Housing); Series 2010 A, RB (f)(g) | 5.75% | 06/01/2020 | 1,990 | 2,059,491 |
13 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
New Jersey–(continued) | |||||
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement); | |||||
Series 2013, RB (h) | 5.50% | 01/01/2026 | $ 1,000 | $ 1,162,430 | |
Series 2013, RB (h) | 5.38% | 01/01/2043 | 1,000 | 1,129,830 | |
New Jersey (State of) Transportation Trust Fund Authority; | |||||
Series 1999 A, RB | 5.75% | 06/15/2020 | 2,570 | 2,660,104 | |
Series 2006 C, RB (INS -AGC)(b)(e) | 0.00% | 12/15/2026 | 8,435 | 7,284,382 | |
Series 2011 A, RB | 5.50% | 06/15/2041 | 1,000 | 1,061,630 | |
Series 2011 B, RB | 5.50% | 06/15/2031 | 1,005 | 1,071,571 | |
Series 2018 A, Ref. RB | 5.00% | 12/15/2034 | 1,000 | 1,204,650 | |
Series 2018 A, Ref. RN (c)(k) | 5.00% | 06/15/2029 | 1,505 | 1,802,478 | |
Series 2018 A, Ref. RN (c)(k) | 5.00% | 06/15/2030 | 515 | 613,422 | |
Series 2018 A, Ref. RN | 5.00% | 06/15/2031 | 960 | 1,136,025 | |
Subseries 2016 A-1, RN | 5.00% | 06/15/2028 | 935 | 1,125,067 | |
Salem (County of), NJ Pollution Control Financing Authority (Chambers); Series 2014 A, Ref. PCR (h) | 5.00% | 12/01/2023 | 4,000 | 4,347,800 | |
Tobacco Settlement Financing Corp.; Series 2018 A, Ref. RB | 5.25% | 06/01/2046 | 2,370 | 2,777,261 | |
40,915,854 | |||||
New Mexico–0.38% | |||||
Farmington (City of), NM (Public Service Co. of New Mexico San Juan); Series 2010 C, Ref. PCR | 5.90% | 06/01/2040 | 2,650 | 2,738,828 | |
New York–13.17% | |||||
Brooklyn Arena Local Development Corp. (Barclays Center); | |||||
Series 2009, RB (f)(g) | 6.25% | 01/15/2020 | 1,740 | 1,773,512 | |
Series 2009, RB (f)(g) | 6.38% | 01/15/2020 | 720 | 734,198 | |
Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB | 5.00% | 06/01/2045 | 2,460 | 2,460,590 | |
Hudson Yards Infrastructure Corp.; Series 2017 A, Ref. RB (INS- AGM)(b) | 4.00% | 02/15/2047 | 3,135 | 3,529,132 | |
Metropolitan Transportation Authority; | |||||
Series 2012 F, Ref. RB | 5.00% | 11/15/2024 | 1,500 | 1,679,025 | |
Series 2013 A, RB | 5.00% | 11/15/2038 | 1,680 | 1,878,257 | |
Subseries 2005 D-2, VRD RB (LOC -Landesbank Hessen-Thueringen Girozentrale)(l)(m) | 1.18% | 11/01/2035 | 1,000 | 1,000,000 | |
New York & New Jersey (States of) Port Authority; Two Hundred Seventh Series 2018, Ref. RB (c)(h) | 5.00% | 09/15/2028 | 3,105 | 3,994,272 | |
New York (City of) Transitional Finance Authority; Subseries 2012 E-1, RB (c) | 5.00% | 02/01/2037 | 7,155 | 7,772,190 | |
New York (City of), NY Municipal Water Finance Authority; | |||||
Series 2010 FF, RB | 5.00% | 06/15/2031 | 2,400 | 2,471,928 | |
Series 2013 DD, RB | 5.00% | 06/15/2035 | 2,900 | 3,314,932 | |
Subseries 2012 A-1, VRD RB (l) | 1.25% | 06/15/2044 | 4,880 | 4,880,000 | |
New York (City of), NY Transitional Finance Authority; | |||||
Series 2013 I, RB | 5.00% | 05/01/2038 | 1,535 | 1,735,179 | |
Subseries 2009 A-1, RB (c) | 5.00% | 05/01/2030 | 2,533 | 2,533,000 | |
Subseries 2011 D-1, RB (c) | 5.00% | 11/01/2033 | 1,725 | 1,866,433 | |
New York (Counties of), NY Tobacco Trust V; Series 2005 S-2, RB (e) | 0.00% | 06/01/2050 | 10,140 | 1,564,906 | |
New York (Counties of), NY Tobacco Trust VI; Subseries 2016 A-1, Ref. RB | 5.75% | 06/01/2043 | 2,995 | 3,647,042 | |
New York (State of) Dormitory Authority; Series 2019 A, RB | 5.00% | 10/01/2033 | 1,000 | 1,258,230 | |
New York (State of) Dormitory Authority (City of New York); Series 2005 A, RB (INS -AMBAC)(b) | 5.50% | 05/15/2029 | 1,805 | 2,470,792 | |
New York (State of) Dormitory Authority (General Purpose); | |||||
Series 2011 A, RB (c) | 5.00% | 03/15/2030 | 5,805 | 6,144,360 | |
Series 2013 A, RB | 5.00% | 02/15/2037 | 2,050 | 2,313,077 | |
New York (State of) Thruway Authority; Series 2011 A-1, RB (c) | 5.00% | 04/01/2029 | 4,860 | 5,160,883 | |
New York City Water & Sewer System; Series 2012 FF, RB (c) | 5.00% | 06/15/2045 | 1,000 | 1,100,390 | |
New York Liberty Development Corp. (3 World Trade Center); Series 2014, Class 1, Ref. RB (d) | 5.00% | 11/15/2044 | 4,840 | 5,376,224 | |
New York Liberty Development Corp. (7 World Trade Center); | |||||
Series 2012, Class 1, Ref. RB (c) | 5.00% | 09/15/2040 | 5,100 | 5,586,693 | |
Series 2012, Class 2, Ref. RB | 5.00% | 09/15/2043 | 1,770 | 1,922,698 |
14 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
New York–(continued) | |||||
New York Transportation Development Corp. (American Airlines, Inc.); Series 2016, Ref. RB (h) | 5.00% | 08/01/2031 | $ 1,545 | $ 1,632,092 | |
New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminal C&D Redevelopment); | |||||
Series 2018, RB (h) | 5.00% | 01/01/2031 | 3,160 | 3,866,386 | |
Series 2018, RB (h) | 4.00% | 01/01/2036 | 1,425 | 1,576,349 | |
New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment); | |||||
Series 2016 A, RB (h) | 5.00% | 07/01/2046 | 1,620 | 1,812,910 | |
Series 2016 A, RB (h) | 5.25% | 01/01/2050 | 2,985 | 3,365,886 | |
Rockland Tobacco Asset Securitization Corp.; Series 2001, RB | 5.75% | 08/15/2043 | 1,500 | 1,537,230 | |
Triborough Bridge and Tunnel Authority; Series 1992 Y, RB (f) | 6.13% | 01/01/2021 | 985 | 1,015,673 | |
TSASC, Inc.; Series 2016 B, Ref. RB | 5.00% | 06/01/2048 | 3,185 | 3,159,202 | |
96,133,671 | |||||
North Carolina–4.16% | |||||
Charlotte (City of), NC (Charlotte Douglas International Airport); | |||||
Series 2017 A, RB (c) | 5.00% | 07/01/2047 | 1,775 | 2,167,737 | |
Series 2019, RB | 4.00% | 07/01/2044 | 640 | 740,378 | |
(c) | 5.00% | 07/01/2042 | 4,000 | 4,885,040 | |
North Carolina (State of) Capital Facilities Finance Agency (Duke University); Series 2015 B, Ref. RB (c) | 5.00% | 10/01/2055 | 8,820 | 10,466,165 | |
North Carolina (State of) Department of Transportation (I-77 HOT Lanes); | |||||
Series 2015, RB (h) | 5.00% | 12/31/2037 | 750 | 848,197 | |
Series 2015, RB (h) | 5.00% | 06/30/2054 | 1,115 | 1,242,378 | |
North Carolina (State of) Medical Care Commission (Duke University Health System); Series 2012 A, RB (c) | 5.00% | 06/01/2042 | 5,110 | 5,570,309 | |
North Carolina (State of) Turnpike Authority; | |||||
Series 2011, RB (c) | 5.00% | 07/01/2036 | 1,755 | 1,866,794 | |
Series 2011, RB (c) | 5.00% | 07/01/2041 | 2,430 | 2,579,348 | |
30,366,346 | |||||
North Dakota–0.61% | |||||
Ward (County of), ND (Trinity Obligated Group); | |||||
Series 2017 C, RB | 5.00% | 06/01/2043 | 2,040 | 2,342,226 | |
Series 2017 C, RB | 5.00% | 06/01/2048 | 1,815 | 2,077,994 | |
4,420,220 | |||||
Ohio–6.06% | |||||
Akron, Bath & Copley Joint Township Hospital District (Summa Health Obligated Group); Series 2016, Ref. RB | 5.25% | 11/15/2046 | 775 | 921,901 | |
Allen (County of), OH (Catholic Health Partners); Series 2012 A, Ref. RB | 5.00% | 05/01/2042 | 1,450 | 1,561,418 | |
American Municipal Power, Inc. (Combined Hydroelectric); Series 2016 A, Ref. RB | 4.00% | 02/15/2035 | 1,000 | 1,107,620 | |
American Municipal Power, Inc. (Greenup Hydroelectric); Series 2016 A, RB | 5.00% | 02/15/2046 | 490 | 571,575 | |
Buckeye Tobacco Settlement Financing Authority; | |||||
Series 2007 A-2, RB | 5.75% | 06/01/2034 | 235 | 235,350 | |
Series 2007 A-2, RB | 5.88% | 06/01/2047 | 6,955 | 6,989,845 | |
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Constellation Schools); Series 2014 A, Ref. RB | 6.50% | 01/01/2034 | 1,000 | 1,062,390 | |
Cuyahoga (County of), OH (Metrohealth System); | |||||
Series 2017, Ref. RB | 5.25% | 02/15/2047 | 2,500 | 2,914,025 | |
Series 2017, Ref. RB | 5.50% | 02/15/2052 | 1,555 | 1,836,377 | |
Franklin (County of), OH (First Community Village Obligated Group); Series 2013, Ref. RB | 5.25% | 07/01/2033 | 2,000 | 2,042,280 | |
Franklin (County of), OH (OhioHealth Corp.); Series 2011 A, RB (c) | 5.00% | 11/15/2036 | 3,390 | 3,636,046 | |
Gallia (County of), OH (Holzer Health System Obligated Group); Series 2012, Ref. RB | 8.00% | 07/01/2042 | 985 | 1,121,600 | |
Hamilton (County of), OH (Christ Hospital); Series 2012, RB | 5.50% | 06/01/2042 | 3,000 | 3,277,290 | |
Hamilton (County of), OH (Life Enriching Communities); Series 2016, Ref.RB | 5.00% | 01/01/2046 | 1,370 | 1,529,235 |
15 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Ohio–(continued) | |||||
Hancock (County of), OH (Blanchard Valley Regional Health Center); Series 2011 A, RB (f)(g) | 6.25% | 06/01/2021 | $ 2,470 | $ 2,688,348 | |
Lucas (County of), OH (ProMedica Healthcare System); Series 2018 A, Ref. RB | 5.25% | 11/15/2048 | 1,585 | 1,926,108 | |
Montgomery (County of), OH (Trousdale Foundation Properties); Series 2018 A, RB (d) | 6.00% | 04/01/2038 | 1,425 | 1,602,583 | |
Ohio (State of) (Portsmouth Bypass); Series 2015, RB (INS -AGM)(b)(h) | 5.00% | 12/31/2039 | 735 | 845,588 | |
Ohio (State of) Air Quality Development Authority (Pratt Paper LLC); Series 2017, RB (d)(h) | 4.25% | 01/15/2038 | 555 | 602,541 | |
Ohio (State of) Higher Educational Facility Commission (Summa Health System); | |||||
Series 2010, RB (f)(g) | 5.75% | 05/15/2020 | 3,055 | 3,152,027 | |
Series 2010, RB | 5.75% | 11/15/2040 | 1,780 | 1,832,546 | |
Ohio (State of) Turnpike Commission (Infrastructure); Series 2013 A, RB | 5.00% | 02/15/2028 | 2,500 | 2,811,750 | |
44,268,443 | |||||
Oklahoma–0.49% | |||||
Oklahoma (State of) Development Finance Authority (OU Medicine); Series 2018 B, RB | 5.50% | 08/15/2057 | 2,055 | 2,502,908 | |
Oklahoma (State of) Development Finance Authority (Provident Oklahoma Education Resources, Inc.-Cross Village Student Housing); Series 2017, RB | 5.00% | 08/01/2052 | 1,785 | 1,053,150 | |
3,556,058 | |||||
Oregon–0.34% | |||||
Warm Springs Reservation Confederated Tribes of Oregon (Pelton Round Butte); Series 2009 B, RB | 6.38% | 11/01/2033 | 2,465 | 2,485,607 | |
Pennsylvania–2.27% | |||||
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB | 5.00% | 04/01/2047 | 1,000 | 1,197,420 | |
Beaver (County of), PA Industrial Development Authority (FirstEnergy Nuclear Generation); Series 2006 A, Ref. PCR (g)(o) | 4.38% | 07/01/2022 | 850 | 875,500 | |
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC -PNC Bank, N.A.)(l)(m) | 1.28% | 06/01/2037 | 170 | 170,000 | |
Pennsylvania (State of) Turnpike Commission; | |||||
Series 2012 A, RB | 5.00% | 12/01/2020 | 1,370 | 1,435,870 | |
Series 2018 B, RB | 5.25% | 12/01/2048 | 1,105 | 1,368,332 | |
Subseries 2010 B-2, RB (f)(g)(i) | 5.75% | 12/01/2020 | 2,850 | 3,014,388 | |
Subseries 2010 B-2, RB (f)(g)(i) | 6.00% | 12/01/2020 | 1,750 | 1,856,330 | |
Philadelphia (City of), PA; | |||||
Series 2017 A, RB | 5.00% | 10/01/2052 | 1,010 | 1,216,666 | |
Series 2017 B, Ref. RB (h) | 5.00% | 07/01/2047 | 3,595 | 4,266,977 | |
Philadelphia (City of), PA Industrial Development Authority (Thomas Jefferson University); Series 2017 A, Ref. RB | 5.00% | 09/01/2047 | 775 | 913,516 | |
Philadelphia School District; Series 2008 E, GO Bonds (INS -BHAC)(b) | 5.13% | 09/01/2023 | 250 | 250,000 | |
16,564,999 | |||||
Puerto Rico–2.20% | |||||
Children’s Trust Fund; | |||||
Series 2002, RB | 5.50% | 05/15/2039 | 3,255 | 3,310,660 | |
Series 2002, RB | 5.63% | 05/15/2043 | 1,405 | 1,429,025 | |
Series 2005 A, RB (e) | 0.00% | 05/15/2050 | 5,450 | 766,325 | |
Puerto Rico (Commonwealth of) Electric Power Authority; | |||||
Series 2007 VV, Ref. RB (INS -NATL)(b) | 5.25% | 07/01/2033 | 690 | 747,477 | |
Series 2007 VV, Ref. RB (INS -NATL)(b) | 5.25% | 07/01/2035 | 610 | 659,398 | |
Puerto Rico (Commonwealth of) Highway & Transportation Authority; | |||||
Series 2007 N, Ref. RB (INS-AGM)(b) | 5.50% | 07/01/2029 | 600 | 682,344 | |
Series 2007 N, Ref. RB (INS -NATL)(b) | 5.25% | 07/01/2032 | 725 | 785,566 | |
Series 2007 N, Ref. RB (INS -AGC)(b) | 5.25% | 07/01/2034 | 1,135 | 1,270,962 | |
Puerto Rico (Commonwealth of) Public Buildings Authority; Series 2007 M-3, Ref. RB (INS -NATL)(b) | 6.00% | 07/01/2024 | 1,910 | 1,967,988 |
16 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Puerto Rico–(continued) | |||||
Puerto Rico Sales Tax Financing Corp.; | |||||
Series 2018 A-1, RB (e) | 0.00% | 07/01/2029 | $ 1,355 | $ 996,724 | |
Series 2018 A-1, RB (e) | 0.00% | 07/01/2033 | 2,000 | 1,237,080 | |
Series 2018 A-1, RB | 4.50% | 07/01/2034 | 700 | 749,322 | |
Series 2019 A-2, RB | 4.33% | 07/01/2040 | 1,425 | 1,451,719 | |
16,054,590 | |||||
South Carolina–1.63% | |||||
South Carolina (State of) Jobs-Economic Development Authority (Palmetto Health Alliance); Series 2013 A, Ref. RB (f)(g) | 5.25% | 08/01/2023 | 1,400 | 1,623,398 | |
South Carolina (State of) Ports Authority; | |||||
Series 2015, RB (h) | 5.25% | 07/01/2050 | 3,005 | 3,491,720 | |
Series 2015, RB (h) | 5.25% | 07/01/2055 | 1,230 | 1,421,954 | |
South Carolina (State of) Public Service Authority; Series 2014, Ref. RB | 5.00% | 12/01/2046 | 1,120 | 1,275,019 | |
South Carolina (State of) Public Service Authority (Santee Cooper Revenue Obligations); Series 2013 E, RB | 5.50% | 12/01/2053 | 3,595 | 4,065,046 | |
11,877,137 | |||||
South Dakota–0.21% | |||||
South Dakota (State of) Health & Educational Facilities Authority (Sanford Obligated Group); Series 2015, Ref. RB | 5.00% | 11/01/2045 | 1,315 | 1,516,274 | |
Tennessee–0.71% | |||||
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health); Series 2018 A, Ref. RB | 5.00% | 07/01/2036 | 1,785 | 2,180,270 | |
Tennessee Energy Acquisition Corp.; | |||||
Series 2006 A, RB | 5.25% | 09/01/2023 | 1,280 | 1,456,141 | |
Series 2006 A, RB | 5.25% | 09/01/2026 | 1,275 | 1,552,759 | |
5,189,170 | |||||
Texas–17.00% | |||||
Alamo Community College District; Series 2012, Ref. GO Bonds (c) | 5.00% | 08/15/2034 | 5,105 | 5,643,526 | |
Austin (City of), TX; Series 2019 B, RB (h) | 5.00% | 11/15/2044 | 2,500 | 3,115,300 | |
Bexar County Health Facilities Development Corp. (Army Retirement Residence); Series 2010, RB (f)(g) | 6.20% | 07/01/2020 | 2,225 | 2,316,759 | |
Clifton Higher Education Finance Corp. (International Leadership of Texas); Series 2018 D, RB | 5.75% | 08/15/2033 | 1,580 | 1,777,611 | |
Dallas-Fort Worth (Cities of), TX International Airport; Series 2014 A, Ref. RB (h) | 5.25% | 11/01/2026 | 2,000 | 2,318,540 | |
Gulf Coast Industrial Development Authority (ExxonMobil); Series 2012, VRD RB (l) | 1.25% | 11/01/2041 | 1,500 | 1,500,000 | |
Harris (County of), TX; Series 2007 C, Ref. GO Bonds (INS -AGM)(b) | 5.25% | 08/15/2031 | 5,395 | 7,566,434 | |
Harris County Industrial Development Corp. (Deer Park Refining Limited Partnership); Series 2006, RB (f)(g) | 5.00% | 12/01/2019 | 1,300 | 1,311,505 | |
Houston (City of), TX; | |||||
Series 2009 A, Ref. GO Bonds | 5.00% | 03/01/2027 | 215 | 215,864 | |
Series 2011 D, RB (c) | 5.00% | 11/15/2033 | 2,700 | 2,930,391 | |
Series 2011 D, RB (c) | 5.00% | 11/15/2036 | 4,005 | 4,346,747 | |
Houston (City of), TX Airport System (United Airlines, Inc. Airport Improvement); Series 2015 C, Ref. RB (h) | 5.00% | 07/15/2020 | 775 | 794,662 | |
Houston (City of), TX Airport System (United Airlines, Inc. Terminal E); Series 2014, Ref. RB (h) | 4.75% | 07/01/2024 | 500 | 548,225 | |
Houston (City of), TX Convention & Entertainment Facilities Department; Series 2001 B, RB (INS -AGM)(b)(e) | 0.00% | 09/01/2025 | 4,650 | 4,240,056 | |
La Vernia Higher Education Finance Corp. (Meridian World School); Series 2015 A, RB (d) | 5.50% | 08/15/2045 | 1,205 | 1,315,294 | |
Lower Colorado River Authority; | |||||
Series 2012 A, Ref. RB (f)(g) | 5.00% | 05/15/2022 | 5 | 5,508 | |
Series 2012 A, Ref. RB | 5.00% | 05/15/2030 | 2,125 | 2,336,990 | |
Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2011 A, Ref. RB | 5.00% | 05/15/2041 | 2,250 | 2,381,152 |
17 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Texas–(continued) | |||||
Lower Neches Valley Authority Industrial Development Corp. (Exxonmobil); Series 2010, VRD RB (l) | 1.25% | 11/01/2038 | $ 4,390 | $ 4,390,000 | |
New Hope Cultural Education Facilities Corp. (Presbyterian Village North); | |||||
Series 2018, Ref. RB | 5.00% | 10/01/2032 | 205 | 230,781 | |
Series 2018, Ref. RB | 5.00% | 10/01/2033 | 1,280 | 1,437,158 | |
New Hope Cultural Education Facilities Finance Corp. (4-K Housing, Inc.-Stoney Brook); Series 2017 A-1, RB | 4.75% | 07/01/2052 | 750 | 787,433 | |
New Hope Cultural Education Facilities Finance Corp. (CHF-Collegiate Housing College Station I, LLC-Texas A&M University); Series 2014 A, RB (INS -AGM)(b) | 5.00% | 04/01/2046 | 1,900 | 2,128,798 | |
New Hope Cultural Education Facilities Finance Corp. (Collegiate Housing - Tarleton State University); Series 2014 A, RB | 5.00% | 04/01/2034 | 1,000 | 1,094,140 | |
New Hope Cultural Education Facilities Finance Corp. (Morningside Ministries); Series 2013, RB | 6.50% | 01/01/2043 | 1,000 | 1,102,920 | |
North Texas Tollway Authority; | |||||
Series 2008 D, Ref. RB (INS -AGC)(b)(e) | 0.00% | 01/01/2028 | 18,900 | 16,345,665 | |
Series 2008 D, Ref. RB (INS -AGC)(b)(e) | 0.00% | 01/01/2031 | 3,740 | 2,984,183 | |
SA Energy Acquisition Public Facility Corp.; Series 2007, RB | 5.50% | 08/01/2021 | 1,500 | 1,611,240 | |
San Antonio (City of), TX; Series 2013, RB | 5.00% | 02/01/2038 | 2,495 | 2,790,508 | |
Tarrant County Cultural Education Facilities Finance Corp.; Series 2016 A, Ref. RB (c) | 5.00% | 02/15/2047 | 3,260 | 3,860,492 | |
Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group); | |||||
Series 2016, Ref. RB | 5.00% | 05/15/2037 | 1,395 | 1,539,285 | |
Series 2016, Ref. RB | 5.00% | 05/15/2045 | 850 | 926,933 | |
Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home); Series 2017A, RB | 6.38% | 02/15/2048 | 1,765 | 1,983,083 | |
Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System); Series 2016 A, Ref. RB | 5.00% | 02/15/2041 | 3,900 | 4,660,500 | |
Temple (City of), TX; Series 2018 A, RB (d) | 5.00% | 08/01/2028 | 705 | 801,789 | |
Texas (State of) Transportation Commission; | |||||
Series 2016 A, GO Bonds | 5.00% | 04/01/2044 | 1,555 | 1,860,029 | |
Series 2019, RB (e) | 0.00% | 08/01/2041 | 2,000 | 821,200 | |
Texas (State of) Transportation Commission (Central Texas Turnpike System); | |||||
Series 2015 B, Ref. RB (e) | 0.00% | 08/15/2036 | 3,170 | 1,630,902 | |
Series 2015 B, Ref. RB (e) | 0.00% | 08/15/2037 | 970 | 475,610 | |
Series 2015 C, Ref. RB | 5.00% | 08/15/2042 | 3,835 | 4,336,465 | |
Texas Municipal Gas Acquisition & Supply Corp. I; Series 2008 D, RB | 6.25% | 12/15/2026 | 4,860 | 5,734,460 | |
Texas Municipal Gas Acquisition & Supply Corp. III; | |||||
Series 2012, RB | 5.00% | 12/15/2028 | 4,095 | 4,538,325 | |
Series 2012, RB | 5.00% | 12/15/2029 | 2,000 | 2,212,620 | |
Series 2012, RB | 5.00% | 12/15/2031 | 1,200 | 1,322,136 | |
Series 2012, RB | 5.00% | 12/15/2032 | 1,195 | 1,314,835 | |
Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group, LLC SH 288 Toll Lanes); Series 2016, RB (h) | 5.00% | 12/31/2055 | 1,050 | 1,180,378 | |
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC North Tarrant Express Management Lanes); Series 2009, RB | 6.88% | 12/31/2039 | 1,945 | 1,982,558 | |
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners Segments 3 LLC Segments 3A and 3B Facility); Series 2013, RB (h) | 7.00% | 12/31/2038 | 1,300 | 1,540,487 | |
Travis County Cultural Education Facilities Finance Corp. (Wayside Schools); Series 2012 A, RB | 5.25% | 08/15/2042 | 515 | 533,978 | |
University of Houston; Series 2008, Ref. RB (INS -AGM)(b)(c) | 5.00% | 02/15/2033 | 1,326 | 1,329,673 | |
124,153,128 | |||||
Utah–0.94% | |||||
Salt Lake (City of), UT; | |||||
Series 2018 A, RB (h) | 5.00% | 07/01/2048 | 1,230 | 1,485,508 | |
Series 2018 A, RB (h) | 5.25% | 07/01/2048 | 1,635 | 2,015,791 | |
Salt Lake City (City of), UT; Series 2017 A, RB (c)(h) | 5.00% | 07/01/2047 | 2,490 | 2,957,373 |
18 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Utah–(continued) | |||||
Salt Lake City (City of), UT (IHC Hospitals, Inc.); Series 1991, Ref. RB (f)(p) | 10.72% | 05/15/2020 | $ 400 | $ 411,876 | |
6,870,548 | |||||
Virgin Islands–0.33% | |||||
Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note); | |||||
Series 2010 A, RB | 5.00% | 10/01/2025 | 540 | 538,650 | |
Series 2010 A, RB | 5.00% | 10/01/2029 | 1,860 | 1,855,350 | |
2,394,000 | |||||
Virginia–1.57% | |||||
Virginia (State of) Small Business Financing Authority (Elizabeth River Crossings Opco, LLC); | |||||
Series 2012, RB (h) | 6.00% | 01/01/2037 | 725 | 807,556 | |
Series 2012, RB (h) | 5.50% | 01/01/2042 | 2,930 | 3,204,307 | |
Virginia (State of) Small Business Financing Authority (Express Lanes, LLC); | |||||
Series 2012, RB (h) | 5.00% | 07/01/2034 | 3,780 | 4,065,806 | |
Series 2012, RB (h) | 5.00% | 01/01/2040 | 1,905 | 2,039,093 | |
Virginia (State of) Small Business Financing Authority (Transform 66 P3); Series 2017, RB (h) | 5.00% | 12/31/2056 | 1,170 | 1,349,653 | |
11,466,415 | |||||
Washington–2.53% | |||||
Chelan (County of), WA Public Utility District No. 1; Series 2011 A, Ref. RB (h) | 5.50% | 07/01/2025 | 925 | 993,783 | |
Kalispel Tribe of Indians; Series 2018 B, RB (d) | 5.25% | 01/01/2038 | 1,000 | 1,119,260 | |
Seattle (Port of), WA; Series 2019, RB (h) | 5.00% | 04/01/2044 | 1,475 | 1,815,386 | |
Washington (State of); Series 2019 A, GO Bonds (c) | 5.00% | 08/01/2042 | 1,770 | 2,213,562 | |
Washington (State of) Convention Center Public Facilities District; | |||||
Series 2018, RB | 5.00% | 07/01/2043 | 1,105 | 1,357,139 | |
Series 2018, RB (c) | 5.00% | 07/01/2048 | 3,955 | 4,818,772 | |
Series 2018, RB | 5.00% | 07/01/2048 | 790 | 959,012 | |
Washington (State of) Health Care Facilities Authority (Catholic Health Initiatives); Series 2011 A, RB (c) | 5.00% | 02/01/2041 | 3,000 | 3,151,770 | |
Washington (State of) Tobacco Settlement Authority; Series 2013, Ref. RB | 5.25% | 06/01/2031 | 2,000 | 2,051,540 | |
18,480,224 | |||||
Wisconsin–3.05% | |||||
Public Finance Authority (American Dream at Meadowlands); | |||||
Series 2017, RB (d) | 6.75% | 08/01/2031 | 865 | 1,037,542 | |
Series 2017, RB (d) | 6.75% | 12/01/2042 | 2,015 | 2,406,877 | |
Public Finance Authority (KU Campus Development Corp.); Series 2016, RB (c) | 5.00% | 03/01/2046 | 3,375 | 3,960,394 | |
Public Finance Authority (Mallard Creek Stem Academy); Series 2019 A, RB (d) | 5.13% | 06/15/2039 | 620 | 640,919 | |
Wisconsin (State of) Health & Educational Facilities Authority (Ascension Health Alliance); Series 2013, RB | 4.00% | 11/15/2043 | 2,250 | 2,526,750 | |
Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance); Series 2012, RB | 5.00% | 06/01/2039 | 3,500 | 3,738,385 | |
Wisconsin (State of) Health & Educational Facilities Authority (Mile Bluff Medical Center, Inc.); | |||||
Series 2014, RB | 5.00% | 05/01/2026 | 1,100 | 1,203,950 | |
Series 2014, RB | 5.13% | 05/01/2029 | 1,000 | 1,093,850 | |
Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1, RB (d) | 6.38% | 01/01/2048 | 915 | 982,527 | |
Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.); | |||||
Series 2018 A, RB | 5.20% | 12/01/2037 | 1,585 | 1,875,800 | |
Series 2018 A, RB | 5.35% | 12/01/2045 | 1,585 | 1,869,064 | |
Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015, Ref. RB | 5.75% | 04/01/2035 | 795 | 900,345 | |
22,236,403 |
19 | Invesco Quality Municipal Income Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | |
Wyoming–0.33% | ||||
Wyoming (State of) Municipal Power Agency; Series 2017 A, Ref. RB (INS- BAM)(b)(c) | 5.00% | 01/01/2047 | $ 2,020 | $ 2,381,014 |
TOTAL INVESTMENTS IN SECURITIES(q)–155.02% (Cost $1,023,039,520) | 1,131,894,434 | |||
FLOATING RATE NOTE OBLIGATIONS–(23.87)% | ||||
Notes
with interest and fee rates ranging from 1.82% to 2.27% at 08/31/2019 and contractual maturities of collateral ranging from 09/01/2022 to 04/01/2056 (See Note 1J)(r) |
(174,295,000) | |||
VARIABLE RATE MUNI TERM PREFERRED SHARES–(32.03)% | (233,875,657) | |||
OTHER ASSETS LESS LIABILITIES–0.88% | 6,439,097 | |||
NET ASSETS APPLICABLE TO COMMON SHARES–100.00% | $ 730,162,874 |
AGC | – Assured Guaranty Corp. |
AGM | – Assured Guaranty Municipal Corp. |
AMBAC | – American Municipal Bond Assurance Corp. |
BAM | – Build America Mutual Assurance Co. |
BHAC | – Berkshire Hathaway Assurance Corp. |
CEP | – Credit Enhancement Provider |
COP | – Certificates of Participation |
FHLMC | – Federal Home Loan Mortgage Corp. |
GO | – General Obligation |
IDR | – Industrial Development Revenue Bonds |
INS | – Insurer |
LOC | – Letter of Credit |
NATL | – National Public Finance Guarantee Corp. |
PCR | – Pollution Control Revenue Bonds |
RB | – Revenue Bonds |
Ref. | – Refunding |
RN | – Revenue Notes |
SIFMA | – Securities Industry and Financial Markets Association |
VRD | – Variable Rate Demand |
Wts. | – Warrants |
(a) | Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust’s use of leverage. |
(b) | Principal and/or interest payments are secured by the bond insurance company listed. |
(c) | Underlying security related to TOB Trusts entered into by the Trust. See Note 1J. |
(d) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2019 was $34,975,154, which represented 4.79% of the Trust’s Net Assets. |
(e) | Zero coupon bond issued at a discount. |
(f) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
(g) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
(h) | Security subject to the alternative minimum tax. |
(i) | Convertible capital appreciation bond. The interest rate shown represents the coupon rate at which the bond will accrue at a specified future date. |
(j) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2019. |
(k) | Security is subject to a reimbursement agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $10,690,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts. |
(l) | Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2019. |
(m) | Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. |
(n) | Security subject to crossover refunding. |
(o) | Defaulted security. Currently, the issuer is partially or fully in default with respect to principal and/or interest payments. The value of this security at August 31, 2019 represented less than 1% of the Trust’s Net Assets. |
(p) | Current coupon rate for inverse floating rate municipal obligations. This rate resets periodically as the rate on the related security changes. Positions in inverse floating rate municipal obligations have a total value of $411,876, which represented less than 1% of the Trust’s Net Assets. |
(q) | Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each. |
(r) | Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at August 31, 2019. At August 31, 2019, the Trust’s investments with a value of $274,004,112 are held by TOB Trusts and serve as collateral for the $174,295,000 in the floating rate note obligations outstanding at that date. |
20 | Invesco Quality Municipal Income Trust |
Revenue Bonds | 78.7% |
General Obligation Bonds | 12.2 |
Pre-Refunded Bonds | 8.8 |
Other | 0.3 |
21 | Invesco Quality Municipal Income Trust |
22 | Invesco Quality Municipal Income Trust |
Investment income: | |
Interest | $24,060,585 |
Expenses: | |
Advisory fees | 3,142,914 |
Administrative services fees | 49,980 |
Custodian fees | 6,096 |
Interest, facilities and maintenance fees | 5,405,684 |
Transfer agent fees | 28,671 |
Trustees’ and officers’ fees and benefits | 15,650 |
Registration and filing fees | 25,748 |
Reports to shareholders | 52,536 |
Professional services fees | 88,993 |
Other | 34,590 |
Total expenses | 8,850,862 |
Net investment income | 15,209,723 |
Realized and unrealized gain from: | |
Net realized gain from Investment securities | 716,579 |
Change in net unrealized appreciation of Investment securities | 41,555,561 |
Net realized and unrealized gain | 42,272,140 |
Net increase in net assets resulting from operations applicable to common shares | $57,481,863 |
23 | Invesco Quality Municipal Income Trust |
August
31, 2019 |
February
28, 2019 | |
Operations: | ||
Net investment income | $ 15,209,723 | $ 31,717,962 |
Net realized gain (loss) | 716,579 | (3,153,948) |
Change in net unrealized appreciation (depreciation) | 41,555,561 | (4,237,395) |
Net increase in net assets resulting from operations applicable to common shares | 57,481,863 | 24,326,619 |
Distributions to common shareholders from distributable earnings | (16,372,823) | (35,516,758) |
Net increase (decrease) in net assets applicable to common shares | 41,109,040 | (11,190,139) |
Net assets applicable to common shares: | ||
Beginning of period | 689,053,834 | 700,243,973 |
End of period | $730,162,874 | $689,053,834 |
24 | Invesco Quality Municipal Income Trust |
Cash provided by operating activities: | |
Net increase in net assets resulting from operations applicable to common shares | $ 57,481,863 |
Adjustments to reconcile the change in net assets applicable to common shares from operations to net cash provided by operating activities: | |
Purchases of investments | (25,707,866) |
Proceeds from sales of investments | 76,587,047 |
Purchases of short-term investments, net | (15,015,111) |
Amortization of premium on investment securities | 2,518,694 |
Accretion of discount on investment securities | (2,123,336) |
Decrease in receivables and other assets | 467,973 |
Increase in accrued expenses and other payables | 108,784 |
Net realized gain from investment securities | (716,579) |
Net change in unrealized appreciation on investment securities | (41,555,561) |
Net cash provided by operating activities | 52,045,908 |
Cash provided by (used in) financing activities: | |
Dividends paid to common shareholders from distributable earnings | (16,376,469) |
Decrease in payable for amount due custodian | (2,009,439) |
Proceeds of TOB Trusts | 810,000 |
Repayments of TOB Trusts | (34,470,000) |
Net cash provided by (used in) financing activities | (52,045,908) |
Net increase in cash and cash equivalents | — |
Cash and cash equivalents at beginning of period | — |
Cash and cash equivalents at end of period | $ — |
Supplemental disclosure of cash flow information: | |
Cash paid during the period for interest, facilities and maintenance fees | $ 5,406,453 |
25 | Invesco Quality Municipal Income Trust |
Six
Months Ended August 31, 2019 |
Years
Ended February 28, |
Year
Ended February 29, 2016 |
Year
Ended February 28, 2015 | |||
2019 | 2018 | 2017 | ||||
Net asset value per common share, beginning of period | $ 13.03 | $ 13.24 | $ 13.40 | $ 14.05 | $ 13.96 | $ 12.98 |
Net investment income(a) | 0.29 | 0.60 | 0.73 | 0.73 | 0.79 | 0.79 |
Net gains (losses) on securities (both realized and unrealized) | 0.80 | (0.14) | (0.23) | (0.63) | 0.07 | 0.97 |
Total from investment operations | 1.09 | 0.46 | 0.50 | 0.10 | 0.86 | 1.76 |
Dividends paid to common shareholders from net investment income | (0.31) | (0.67) | (0.66) | (0.75) | (0.77) | (0.78) |
Net asset value per common share, end of period | $ 13.81 | $ 13.03 | $ 13.24 | $ 13.40 | $ 14.05 | $ 13.96 |
Market value per common share, end of period | $ 12.93 | $ 11.99 | $ 11.98 | $ 12.46 | $ 12.98 | $ 12.58 |
Total return at net asset value(b) | 8.64% | 4.19% | 4.17% | 0.96% | 7.08% | 14.57% |
Total return at market value(c) | 10.55% | 5.96% | 1.37% | 1.62% | 9.78% | 12.99% |
Net assets applicable to common shares, end of period (000’s omitted) | $730,163 | $689,054 | $700,244 | $708,706 | $743,081 | $738,290 |
Portfolio turnover rate(d) | 3% | 14% | 10% | 17% | 6% | 10% |
Ratios/supplemental data based on average net assets applicable to common shares outstanding: | ||||||
Ratio of expenses: | ||||||
With fee waivers and/or expense reimbursements | 2.48% (e) | 2.48% | 2.13% | 1.46% | 1.01% | 1.07% |
With fee waivers and/or expense reimbursements excluding interest, facilities and maintenance fees | 0.96% (e) | 1.01% | 0.96% | 0.67% | 0.50% | 0.52% |
Without fee waivers and/or expense reimbursements | 2.48% (e) | 2.48% | 2.13% | 1.71% | 1.43% | 1.50% |
Ratio of net investment income to average net assets | 4.26% (e) | 4.60% | 5.38% | 5.23% (f) | 5.74% | 5.82% |
Senior securities: | ||||||
Total amount of preferred shares outstanding (000’s omitted) | $233,900 | $233,900 | $233,900 | $213,900 | $213,900 | $213,900 |
Asset coverage per preferred share(g) | $412,169 | $394,593 | $399,377 | $431,326 | $447,396 | $445,147 |
Liquidating preference per preferred share | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 |
(a) | Calculated using average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable. |
(c) | Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trust’s dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable. |
(d) | Portfolio turnover is not annualized for periods less than one year, if applicable. |
(e) | Ratios are annualized and based on average daily net assets applicable to common shares (000’s omitted) of $709,502. |
(f) | Amount includes the effect of insurance settlement proceeds received related to ARPS previously issued by the Trust. The ratio of net investment income excluding these payments would have been 5.03%. |
(g) | Calculated by subtracting the Trust’s total liabilities (not including preferred shares, at liquidation value) from the Trust’s total assets and dividing this by the total number of preferred shares outstanding. |
26 | Invesco Quality Municipal Income Trust |
A. | Security Valuations – Securities, including restricted securities, are valued according to the following policy. |
B. | Securities Transactions and Investment Income — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date. Bond premiums and discounts are amortized and/or accreted over the lives of the respective securities. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Distributions — The Trust declares and pays monthly dividends from net investment income to common shareholders. Distributions from net realized capital gain, if any, are generally declared and paid annually and are distributed on a pro rata basis to common and preferred shareholders. |
E. | Cash and Cash Equivalents – For the purposes of the Statement of Cash Flows, the Trust defines Cash and Cash Equivalents as cash (including foreign currency), money market funds and other investments held in lieu of cash and excludes investments made with cash collateral received. |
27 | Invesco Quality Municipal Income Trust |
F. | Federal Income Taxes – The Trust intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), necessary to qualify as a regulated investment company and to distribute substantially all of the Trust’s taxable earnings to shareholders. As such, the Trust will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. |
G. | Interest, Facilities and Maintenance Fees – Interest, Facilities and Maintenance Fees include interest and related borrowing costs such as commitment fees, rating and bank agent fees and other expenses associated with lines of credit and Variable Rate Muni Term Preferred Shares ("VMTP Shares"), and interest and administrative expenses related to establishing and maintaining floating rate note obligations, if any. |
H. | Accounting Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print. |
I. | Indemnifications – Under the Trust’s organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts, including the Trust’s servicing agreements, that contain a variety of indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote. |
J. | Floating Rate Note Obligations – The Trust invests in inverse floating rate securities, such as Tender Option Bonds (“TOBs”), for investment purposes and to enhance the yield of the Trust. Such securities may be purchased in the secondary market without first owning an underlying bond but generally are created through the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer or by the Trust (“TOB Trusts”) in exchange for cash and residual interests in the TOB Trusts’ assets and cash flows, which are in the form of inverse floating rate securities. The TOB Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The floating rate notes issued by the TOB Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the TOB Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate securities) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the TOB Trust to the Trust, thereby collapsing the TOB Trust. Inverse floating rate securities tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. |
28 | Invesco Quality Municipal Income Trust |
K. | Other Risks – The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located. |
29 | Invesco Quality Municipal Income Trust |
Capital Loss Carryforward* | |||
Expiration | Short-Term | Long-Term | Total |
Not subject to expiration | $16,421,318 | $10,691,704 | $27,113,022 |
* | Capital loss carryforward as of the date listed above is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. |
30 | Invesco Quality Municipal Income Trust |
Unrealized Appreciation (Depreciation) of Investments on a Tax Basis | |
Aggregate unrealized appreciation of investments | $110,953,467 |
Aggregate unrealized (depreciation) of investments | (4,132,014) |
Net unrealized appreciation of investments | $106,821,453 |
Six
Months Ended August 31, 2019 |
Year
Ended February 28, 2019 | |
Beginning shares | 52,883,797 | 52,883,797 |
Shares issued through dividend reinvestment | — | — |
Ending shares | 52,883,797 | 52,883,797 |
Declaration Date | Amount per Share | Record Date | Payable Date |
September 3, 2019 | $0.0516 | September 18, 2019 | September 30, 2019 |
October 1, 2019 | $0.0487 | October 16, 2019 | October 31, 2019 |
31 | Invesco Quality Municipal Income Trust |
Approval of Investment Advisory and Sub-Advisory Contracts
32 Invesco Quality Municipal Income Trust
33 Invesco Quality Municipal Income Trust
Proxy Results
A Joint Annual Meeting (Meeting) of Shareholders of Invesco Quality Municipal Income Trust (the Fund) was held on August 9, 2019. The Meeting was held for the following purposes:
(1). | Election of Trustees by Common Shareholders and Preferred Shareholders voting together as a single class. |
(2). | Election of Trustees by Preferred Shareholders voting as a separate class. |
The results of the voting on the above matters were as follows:
Matters | Votes For | Votes Withheld |
||||||||
(1). | Cynthia Hostetler | 45,925,237.12 | 2,721,419.94 | |||||||
Eli Jones | 47,278,539.05 | 1,438,118.01 | ||||||||
Ann Barnett Stern | 47,270,006.06 | 1,446,651.00 | ||||||||
Raymond Stickel, Jr. | 45,847,182.05 | 2,869,475.01 | ||||||||
(2). | Prema Mathai-Davis | 2,339.00 | 0.00 |
34 Invesco Quality Municipal Income Trust
SEC file number: 811-06591 | MS-CE-QMINC-SAR-1 |
ITEM 2. CODE OF ETHICS.
Not applicable for a semi-annual report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
During the reporting period, PricewaterhouseCoopers LLC (PwC) advised the Audit Committee of the following matters for consideration under the SECs auditor independence rules. PwC advised the Audit Committee that a PwC Manager and a PwC Senior Associate each held financial interests in investment companies within the Invesco Fund Complex that were inconsistent with the requirements of Rule 2-01(c)(1) of Regulation S-X. PwC noted, among other things, that during the time of its audit, the engagement team was not aware of the investments, (or with respect to the PwC Senior Associate was not aware until after the investments were confirmed as SEC exceptions), the individuals were not in the chain of command of the audit or the audit partners of Invesco or the affiliate of the Registrant, the services each individual provided were not relied upon by the audit engagement team with respect to the audit of the Registrant or its affiliates (or with respect to the PwC Senior Associate, the services were performed by an individual who did not have decision-making responsibility for matters that materially affected the audit and were reviewed by team members at least two levels higher than the PwC Senior Associate), and the investments were not material to the net worth of each individual or their respective immediate family members which they considered in reaching their conclusion. PwC advised the Audit Committee that it believes its objectivity and impartiality had not been adversely affected by these matters as they related to the audit of the Registrant.
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable.
ITEM 6. | SCHEDULE OF INVESTMENTS. |
Investments in securities of unaffiliated issuers is included as part of the reports to stockholders filed under Item 1 of this Form.
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable.
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
None. |
ITEM 11. | CONTROLS AND PROCEDURES. |
(a) | As of October 16, 2019, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (PEO) and Principal Financial Officer (PFO), to assess the effectiveness of the Registrants disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the Act), as amended. Based on that evaluation, the Registrants officers, including the PEO and PFO, concluded that, as of October 16, 2019, the Registrants disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. |
(b) | There have been no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting. |
ITEM 12. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES |
Not applicable.
ITEM 13. | EXHIBITS. |
13(a) (1) | Not applicable. |
13(a) (2) | Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. |
13(a) (3) | Not applicable. |
13(a) (4) | Not applicable |
13(b) | Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: Invesco Quality Municipal Income Trust
By: | /s/ Sheri Morris | |
Sheri Morris | ||
Principal Executive Officer | ||
Date: | November 7, 2019 |
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: | /s/ Sheri Morris | |
Sheri Morris | ||
Principal Executive Officer | ||
Date: | November 7, 2019 |
By: | /s/ Kelli Gallegos | |
Kelli Gallegos | ||
Principal Financial Officer | ||
Date: | November 7, 2019 |
I, Sheri Morris, Principal Executive Officer, certify that:
1. I have reviewed this report on Form N-CSR of Invesco Quality Municipal Income Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in this registrants internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: November 7, 2019 | /s/ Sheri Morris | |||
Sheri Morris, Principal Executive Officer |
I, Kelli Gallegos, Principal Financial Officer, certify that:
1. I have reviewed this report on Form N-CSR of Invesco Quality Municipal Income Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in this registrants internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: November 7, 2019 | /s/ Kelli Gallegos | |||
Kelli Gallegos, Principal Financial Officer |
CERTIFICATION OF SHAREHOLDER REPORT
In connection with the Certified Shareholder Report of Invesco Quality Municipal Income Trust (the Company) on Form N-CSR for the period ended August 31, 2019, as filed with the Securities and Exchange Commission (the Report), I, Sheri Morris, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: November 7, 2019 | /s/ Sheri Morris | |||
Sheri Morris, Principal Executive Officer |
A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
CERTIFICATION OF SHAREHOLDER REPORT
In connection with the Certified Shareholder Report of Invesco Quality Municipal Income Trust (the Company) on Form N-CSR for the period ended August 31, 2019, as filed with the Securities and Exchange Commission (the Report), I, Kelli Gallegos, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: November 7, 2019 | /s/ Kelli Gallegos | |||
Kelli Gallegos, Principal Financial Officer |
A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
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