Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Hits New 12-Month High – Here’s Why

Invesco QQQ Income Advantage ETF (NASDAQ:QQA – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.51 and last traded at $57.37, with a volume of 24074 shares. The stock had previously closed at $56.66.

Invesco QQQ Income Advantage ETF Price Performance

The company’s 50-day moving average is $53.62 and its 200-day moving average is $53.15. The firm has a market capitalization of $707.94 million, a price-to-earnings ratio of 31.47 and a beta of 0.90.

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Invesco QQQ Income Advantage ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were given a $0.4861 dividend. This is a boost from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.46. This represents a c) annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend was Monday, May 18th.

Institutional Investors Weigh In On Invesco QQQ Income Advantage ETF

Several hedge funds have recently modified their holdings of QQA. Royal Bank of Canada lifted its position in Invesco QQQ Income Advantage ETF by 83.2% during the first quarter. Royal Bank of Canada now owns 9,228 shares of the company’s stock valued at $423,000 after buying an additional 4,192 shares in the last quarter. Jane Street Group LLC lifted its position in Invesco QQQ Income Advantage ETF by 18.7% during the first quarter. Jane Street Group LLC now owns 43,396 shares of the company’s stock valued at $1,990,000 after buying an additional 6,849 shares in the last quarter. Cerity Partners LLC acquired a new position in Invesco QQQ Income Advantage ETF during the second quarter valued at approximately $201,000. Bank of America Corp DE lifted its position in Invesco QQQ Income Advantage ETF by 296.3% during the second quarter. Bank of America Corp DE now owns 30,517 shares of the company’s stock valued at $1,532,000 after buying an additional 22,817 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in 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 valued at $84,000 after buying an additional 1,177 shares in the last quarter.

Invesco QQQ Income Advantage ETF Company Profile

(Get Free Report)

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.

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