Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Short Interest Up 203.3% in July

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

Hedge Funds Weigh In On Invesco QQQ Income Advantage ETF

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Invesco QQQ Income Advantage ETF by 83.2% during the 1st quarter. Royal Bank of Canada now owns 9,228 shares of the company’s stock worth $423,000 after purchasing an additional 4,192 shares during the period. Jane Street Group LLC increased its stake in Invesco QQQ Income Advantage ETF by 18.7% in the first quarter. Jane Street Group LLC now owns 43,396 shares of the company’s stock valued at $1,990,000 after purchasing an additional 6,849 shares during the period. Cerity Partners LLC purchased a new stake in shares of Invesco QQQ Income Advantage ETF in the second quarter valued at about $201,000. Bank of America Corp DE raised its holdings in shares of Invesco QQQ Income Advantage ETF by 296.3% in 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 during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of 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 worth $84,000 after buying an additional 1,177 shares during the period.

Invesco QQQ Income Advantage ETF Stock Down 0.7%

QQA traded down $0.37 during trading on Monday, hitting $53.76. 52,871 shares of the stock were exchanged, compared to its average volume of 119,109. The firm has a market capitalization of $762.32 million, a P/E 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. The stock has a fifty day moving average price of $56.68 and a two-hundred day moving average price of $54.16.

Invesco QQQ Income Advantage ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 20th were given a dividend of $0.4756 per share. The ex-dividend date was Monday, July 20th. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%.

Invesco QQQ Income Advantage ETF Company Profile

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.