Short Interest in Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Drops By 76.6%

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 12,240 shares, a drop of 76.6% from the June 15th total of 52,415 shares. Based on an average daily volume of 125,765 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of Invesco QQQ Income Advantage ETF in the third quarter valued at about $25,000. NewEdge Advisors LLC bought a new position in Invesco QQQ Income Advantage ETF in the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of Invesco QQQ Income Advantage ETF during the fourth quarter worth approximately $54,000. Geneos Wealth Management Inc. bought a new stake in shares of Invesco QQQ Income Advantage ETF in the fourth quarter valued at approximately $81,000. Finally, Osaic Holdings Inc. boosted its position in shares of Invesco QQQ Income Advantage ETF by 235.4% in the second quarter. Osaic Holdings Inc. now owns 1,677 shares of the company’s stock valued at $84,000 after acquiring an additional 1,177 shares during the period.

Invesco QQQ Income Advantage ETF Trading Down 1.4%

Shares of Invesco QQQ Income Advantage ETF stock opened at $56.43 on Tuesday. The firm has a fifty day simple moving average of $56.83 and a 200-day simple moving average of $54.02. The stock has a market capitalization of $771.96 million, a price-to-earnings ratio of 31.47 and a beta of 0.92. Invesco QQQ Income Advantage ETF has a 1-year low of $48.20 and a 1-year high of $58.53.

Invesco QQQ Income Advantage ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were issued a $0.5003 dividend. This is a boost from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.43. The ex-dividend date was Monday, June 22nd. This represents a c) annualized dividend and a yield of 10.6%.

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.