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

Invesco QQQ Income Advantage ETF (NASDAQ:QQAGet Free Report) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 76,655 shares, an increase of 111.6% from the April 15th total of 36,227 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 120,123 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QQA. Advisory Services Network LLC acquired a new stake in shares of Invesco QQQ Income Advantage ETF in the 3rd quarter valued at about $25,000. NewEdge Advisors LLC acquired a new stake in shares of Invesco QQQ Income Advantage ETF in the 4th quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new stake in shares of Invesco QQQ Income Advantage ETF in the 4th quarter valued at about $54,000. Geneos Wealth Management Inc. acquired a new stake in shares of Invesco QQQ Income Advantage ETF in the 4th quarter valued at about $81,000. Finally, Osaic Holdings Inc. boosted its position in shares of 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 purchasing an additional 1,177 shares during the period.

Invesco QQQ Income Advantage ETF Stock Performance

Shares of NASDAQ:QQA traded down $0.79 on Monday, hitting $55.84. 47,842 shares of the company’s stock were exchanged, compared to its average volume of 115,866. The firm’s 50-day moving average is $52.75 and its 200 day moving average is $52.97. The company has a market capitalization of $685.72 million, a PE ratio of 31.47 and a beta of 0.90. Invesco QQQ Income Advantage ETF has a 1-year low of $46.85 and a 1-year high of $57.33.

Invesco QQQ Income Advantage ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, April 24th. Stockholders of record on Monday, April 20th were given a dividend of $0.4635 per share. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend was Monday, April 20th.

About Invesco QQQ Income Advantage ETF

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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.

Further Reading

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