Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Reaches New 1-Year High – Here’s Why

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

Invesco QQQ Income Advantage ETF Stock Performance

The firm has a market cap of $706.10 million, a P/E ratio of 31.47 and a beta of 0.93. The firm has a fifty day moving average of $55.42 and a 200-day moving average of $53.56.

Invesco QQQ Income Advantage ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were given a $0.4861 dividend. The ex-dividend date was Monday, May 18th. This represents a c) annualized dividend and a yield of 10.1%. This is an increase from Invesco QQQ Income Advantage ETF’s previous monthly dividend of $0.46.

Institutional Trading of Invesco QQQ Income Advantage ETF

Several large investors have recently added to or reduced their stakes in QQA. LPL Financial LLC increased its position in Invesco QQQ Income Advantage ETF by 62.1% in the 4th quarter. LPL Financial LLC now owns 856,939 shares of the company’s stock valued at $45,435,000 after acquiring an additional 328,405 shares during the period. Cetera Investment Advisers increased its position in Invesco QQQ Income Advantage ETF by 74.4% in the 1st quarter. Cetera Investment Advisers now owns 383,782 shares of the company’s stock valued at $19,142,000 after acquiring an additional 163,730 shares during the period. Jane Street Group LLC increased its position in Invesco QQQ Income Advantage ETF by 331.5% in the 2nd quarter. Jane Street Group LLC now owns 187,275 shares of the company’s stock valued at $9,401,000 after acquiring an additional 143,879 shares during the period. UBS Group AG acquired a new stake in Invesco QQQ Income Advantage ETF in the 3rd quarter valued at approximately $6,230,000. Finally, SageGuard Financial Group LLC acquired a new stake in Invesco QQQ Income Advantage ETF in the 4th quarter valued at approximately $5,693,000.

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.