Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Sees Large Decrease in Short Interest

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 27,481 shares, a decrease of 40.3% from the December 31st total of 46,025 shares. Currently, 0.3% of the shares of the company 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. Currently, 0.3% of the shares of the company are short sold.

Institutional Investors Weigh In On Invesco QQQ Income Advantage ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Invesco QQQ Income Advantage ETF by 95.9% in the third quarter. Commonwealth Equity Services LLC now owns 112,497 shares of the company’s stock valued at $5,920,000 after purchasing an additional 55,063 shares during the period. Apollon Wealth Management LLC bought a new stake in Invesco QQQ Income Advantage ETF during the 3rd quarter valued at $835,000. Perigon Wealth Management LLC bought a new stake in Invesco QQQ Income Advantage ETF during the 3rd quarter valued at $10,340,000. Foundations Investment Advisors LLC bought a new stake in shares of Invesco QQQ Income Advantage ETF in the second quarter valued at about $337,000. Finally, Brookstone Capital Management purchased a new position in Invesco QQQ Income Advantage ETF during the second quarter valued at approximately $240,000.

Invesco QQQ Income Advantage ETF Price Performance

NASDAQ QQA traded down $0.51 during trading hours on Friday, hitting $53.27. The company’s stock had a trading volume of 84,192 shares, compared to its average volume of 115,385. Invesco QQQ Income Advantage ETF has a 12 month low of $39.86 and a 12 month high of $54.87. The company’s 50 day simple moving average is $53.39 and its two-hundred day simple moving average is $52.56. The company has a market cap of $531.63 million, a P/E ratio of 31.47 and a beta of 0.87.

Invesco QQQ Income Advantage ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were given a dividend of $0.4602 per share. This represents a c) dividend on an annualized basis and a yield of 10.4%. This is a positive change from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.46. The ex-dividend date was Tuesday, January 20th.

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.