Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Short Interest Down 40.3% in January

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 27,481 shares, a drop of 40.3% from the December 31st total of 46,025 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 107,504 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 107,504 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Invesco QQQ Income Advantage ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Invesco QQQ Income Advantage ETF by 83.2% in 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 during the period. Jane Street Group LLC lifted its holdings in shares of Invesco QQQ Income Advantage ETF by 18.7% during the 1st quarter. Jane Street Group LLC now owns 43,396 shares of the company’s stock valued at $1,990,000 after acquiring an additional 6,849 shares in the last quarter. Naples Global Advisors LLC boosted its position in Invesco QQQ Income Advantage ETF by 151.3% during the 2nd quarter. Naples Global Advisors LLC now owns 17,830 shares of the company’s stock worth $895,000 after purchasing an additional 10,735 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Invesco QQQ Income Advantage ETF in the 2nd quarter valued at $297,000. Finally, Brookstone Capital Management purchased a new position in Invesco QQQ Income Advantage ETF in the second quarter valued at about $240,000.

Invesco QQQ Income Advantage ETF Trading Down 0.4%

QQA traded down $0.23 during midday trading on Friday, hitting $53.55. The company’s stock had a trading volume of 14,079 shares, compared to its average volume of 111,736. Invesco QQQ Income Advantage ETF has a 52-week low of $39.86 and a 52-week high of $54.87. The firm has a 50-day moving average price of $53.36 and a two-hundred day moving average price of $52.54. The firm has a market cap of $534.43 million, a P/E ratio of 31.47 and a beta of 0.87.

Invesco QQQ Income Advantage ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were given a $0.4602 dividend. This is an increase from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.46. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a c) annualized dividend and a dividend yield of 10.3%.

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.