JPMorgan Chase Bank, N.A. 4
4 · Invesco Quality Municipal Income Trust · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
IQI 10% Owner JPMorgan Transfers 1,521 Shares
What Happened JPMorgan Chase Bank, N.A. — reported as a 10% owner of Invesco Quality Municipal Income Trust (IQI) — recorded both a disposition and an acquisition of 1,521 VARIABLE RATE MUNI TERM PREFERRED SHARES, SERIES 2020/2023-IQI (VMTP Shares) on May 15, 2026. Both entries are coded as "Other acquisition or disposition (J)" and show price/value as N/A, so no dollar amount is reported. The filing indicates the VMTP shares were represented indirectly by a National Finance Authority Class A Certificate that was deposited into the JPM PD Series 5111 Trust; JPMorgan retains an indirect beneficial interest through its beneficiary/contractual rights.
Key Details
- Transaction date: May 15, 2026 (filed May 19, 2026 — filing is within the two-business-day Form 4 window).
- Reported moves: 1,521 shares disposed and 1,521 shares acquired (both coded J); price per share and total value: N/A.
- Shares owned after transaction: not specified in the filing.
- Footnote: The disposal reflects depositing the NFA Class A Certificate (which conveyed indirect ownership of the VMTP shares) into a trust; JPMorgan remains an indirect beneficial owner of those interests.
- Insider type: 10% institutional owner (not an individual executive).
Context This appears to be an internal/institutional transfer of indirect ownership interests (a certificate representing the shares was moved into a trust) rather than an open-market buy or sale. Such transfers by large institutional holders are typically organizational/structural and do not by themselves signal management sentiment about the stock.
Insider Transaction Report
- Other
Variable Rate Muni Term Preferred Shs Series 2020/2023-IQI
[F1]2026-05-15−1,521→ 0 total(indirect: By Trust) - Other
Variable Rate Muni Term Preferred Shs Series 2020/2023-IQI
[F1]2026-05-15+1,521→ 1,521 total(indirect: By Trust)
Footnotes (1)
- [F1]The 1,521 VARIABLE RATE MUNI TERM PREFERRED SHARES, SERIES 2020/2023-IQI (the "VMTP Shares") shown as disposed of in Table I represent VMTP Shares of the Issuer that, immediately prior to the transaction date specified above, were indirectly beneficially owned by JPMorgan Chase Bank, National Association ("JPMCB") by way of JPMCB's ownership of that certain National Finance Authority Certificates Series 2026-PS1 Class A Certificate (the "NFA Class A Certificate"), which represents an indirect beneficial ownership interest in the VMTP Shares. On the transaction date specified above, JPMCB deposited the NFA Class A Certificate into a trust designated as the JPM PD Series 5111 Trust (the "Trust"). JPMCB, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership interest in the NFA Class A Certificate.