Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Sets New 1-Year High – What’s Next?

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) shares reached a new 52-week high during trading on Monday . The company traded as high as $58.38 and last traded at $58.38, with a volume of 8129 shares trading hands. The stock had previously closed at $57.06.

Invesco QQQ Income Advantage ETF Trading Up 2.2%

The company has a market cap of $716.05 million, a PE ratio of 31.47 and a beta of 0.93. The stock has a 50 day moving average price of $55.12 and a 200 day moving average price of $53.49.

Invesco QQQ Income Advantage ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 18th were paid a $0.4861 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date was Monday, May 18th. This is a boost from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QQA. Royal Bank of Canada lifted its stake in shares of Invesco QQQ Income Advantage ETF by 83.2% in the 1st quarter. Royal Bank of Canada now owns 9,228 shares of the company’s stock valued at $423,000 after purchasing an additional 4,192 shares during the period. Jane Street Group LLC lifted its stake in shares of Invesco QQQ Income Advantage ETF by 18.7% in the 1st 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 position in shares of Invesco QQQ Income Advantage ETF in the 2nd quarter valued at approximately $201,000. Bank of America Corp DE lifted its stake in shares of Invesco QQQ Income Advantage ETF by 296.3% in the 2nd quarter. Bank of America Corp DE now owns 30,517 shares of the company’s stock valued at $1,532,000 after purchasing an additional 22,817 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in shares of Invesco QQQ Income Advantage ETF by 235.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,677 shares of the company’s stock valued at $84,000 after purchasing an additional 1,177 shares during the period.

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.