Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Reaches New 1-Year High – Still a Buy?

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

Invesco QQQ Income Advantage ETF Price Performance

The stock has a market cap of $704.14 million, a PE ratio of 31.47 and a beta of 0.90. The business has a fifty day moving average of $53.27 and a 200 day moving average of $53.06.

Invesco QQQ Income Advantage ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 18th were issued a dividend of $0.4861 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a c) dividend on an annualized basis and a yield of 10.2%. This is a boost from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.46.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Invesco QQQ Income Advantage ETF during the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC bought a new position in Invesco QQQ Income Advantage ETF during the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in Invesco QQQ Income Advantage ETF during the 4th quarter worth approximately $54,000. Geneos Wealth Management Inc. bought a new position in Invesco QQQ Income Advantage ETF during the 4th quarter worth approximately $81,000. Finally, Osaic Holdings Inc. lifted its holdings in Invesco QQQ Income Advantage ETF by 235.4% during 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 last quarter.

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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