Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Short Interest Up 203.3% in July

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 37,122 shares, a growth of 203.3% from the June 30th total of 12,240 shares. Based on an average daily volume of 121,101 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the company’s stock are sold short.

Invesco QQQ Income Advantage ETF Trading Down 0.7%

Shares of QQA stock traded down $0.37 on Monday, reaching $53.76. 52,871 shares of the stock were exchanged, compared to its average volume of 119,109. The business’s 50 day moving average price is $56.68 and its 200 day moving average price is $54.16. The company has a market capitalization of $762.32 million, a price-to-earnings ratio of 31.47 and a beta of 0.92. Invesco QQQ Income Advantage ETF has a twelve month low of $48.20 and a twelve month high of $58.53.

Invesco QQQ Income Advantage ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 20th were issued a dividend of $0.4756 per share. This represents a c) dividend on an annualized basis and a yield of 10.6%. The ex-dividend date of this dividend was Monday, July 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QQA. Advisory Services Network LLC purchased a new position in Invesco QQQ Income Advantage ETF in the third quarter valued at approximately $25,000. NewEdge Advisors LLC acquired a new position in Invesco QQQ Income Advantage ETF in the fourth quarter valued at $29,000. Sunbelt Securities Inc. acquired a new position in Invesco QQQ Income Advantage ETF in the fourth quarter valued at $54,000. Geneos Wealth Management Inc. purchased a new position in shares of Invesco QQQ Income Advantage ETF during the fourth quarter worth about $81,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Invesco QQQ Income Advantage ETF by 235.4% during the second quarter. Osaic Holdings Inc. now owns 1,677 shares of the company’s stock worth $84,000 after purchasing an additional 1,177 shares during the last quarter.

About Invesco QQQ Income Advantage ETF

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.