Short Interest in Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Rises By 203.3%

Invesco QQQ Income Advantage ETF (NASDAQ:QQA – Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 37,122 shares, an increase of 203.3% from the June 30th total of 12,240 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 121,101 shares, the short-interest ratio is presently 0.3 days.

Invesco QQQ Income Advantage ETF Stock Performance

NASDAQ:QQA traded down $0.39 during mid-day trading on Tuesday, hitting $53.65. 96,558 shares of the company’s stock traded hands, compared to its average volume of 119,356. The company has a fifty day moving average of $56.64 and a 200 day moving average of $54.17. Invesco QQQ Income Advantage ETF has a twelve month low of $48.20 and a twelve month high of $58.53. The company has a market capitalization of $760.76 million, a P/E ratio of 31.47 and a beta of 0.92.

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Invesco QQQ Income Advantage ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 20th were given a $0.4756 dividend. This represents a c) annualized dividend and a dividend 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 bought and sold shares of QQA. Advisory Services Network LLC acquired a new stake in shares of Invesco QQQ Income Advantage ETF during the third quarter worth $25,000. NewEdge Advisors LLC acquired a new position in shares of Invesco QQQ Income Advantage ETF in the fourth quarter valued at about $29,000. Sunbelt Securities Inc. purchased a new position in shares of Invesco QQQ Income Advantage ETF in the fourth quarter worth about $54,000. Geneos Wealth Management Inc. acquired a new stake in shares of Invesco QQQ Income Advantage ETF during the fourth quarter worth about $81,000. Finally, Osaic Holdings Inc. increased its holdings 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 worth $84,000 after buying an additional 1,177 shares during the period.

About Invesco QQQ Income Advantage ETF

(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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