Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Sees Large Decrease in Short Interest

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 12,240 shares, a drop of 76.6% from the June 15th total of 52,415 shares. Based on an average daily trading volume, of 125,765 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Invesco QQQ Income Advantage ETF Price Performance

Shares of QQA stock traded up $0.16 during midday trading on Friday, reaching $57.24. 216,053 shares of the company traded hands, compared to its average volume of 119,500. The firm’s 50 day simple moving average is $56.79 and its two-hundred day simple moving average is $54.00. The firm has a market cap of $780.18 million, a PE ratio of 31.47 and a beta of 0.92. Invesco QQQ Income Advantage ETF has a 1-year low of $48.20 and a 1-year high of $58.53.

Invesco QQQ Income Advantage ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a $0.5003 dividend. This represents a c) annualized dividend and a yield of 10.5%. The ex-dividend date of this dividend was Monday, June 22nd. This is an increase from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.43.

Institutional Trading of Invesco QQQ Income Advantage ETF

A number of institutional investors have recently bought and sold shares of QQA. Royal Bank of Canada grew its holdings in Invesco QQQ Income Advantage ETF by 83.2% in the first quarter. Royal Bank of Canada now owns 9,228 shares of the company’s stock valued at $423,000 after purchasing an additional 4,192 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Invesco QQQ Income Advantage ETF by 18.7% in the 1st quarter. Jane Street Group LLC now owns 43,396 shares of the company’s stock worth $1,990,000 after buying an additional 6,849 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Invesco QQQ Income Advantage ETF in the 2nd quarter worth about $201,000. Bank of America Corp DE grew its stake in Invesco QQQ Income Advantage ETF by 296.3% in the 2nd quarter. Bank of America Corp DE now owns 30,517 shares of the company’s stock valued at $1,532,000 after acquiring an additional 22,817 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Invesco QQQ Income Advantage ETF by 235.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,677 shares of the company’s stock valued at $84,000 after acquiring an additional 1,177 shares during the last quarter.

Invesco QQQ Income Advantage ETF Company Profile

The Invesco QQQ Income Advantage ETF (QQA) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed, fund-of-funds, that utilizes equity securities and ETFs to mirror the NASDAQ-100 Index. The fund also employs an options-based income strategy with equity-linked notes (ELNs) for upside participation and downside protection QQA was launched on Jul 17, 2024 and is issued by Invesco.