Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Shares Down 0.2% – Should You Sell?

Invesco QQQ Income Advantage ETF (NASDAQ:QQA)’s share price was down 0.2% on Wednesday . The company traded as low as $56.15 and last traded at $56.31. Approximately 83,998 shares changed hands during trading, a decline of 30% from the average daily volume of 119,430 shares. The stock had previously closed at $56.42.

Invesco QQQ Income Advantage ETF Trading Up 0.4%

The stock’s 50 day moving average is $56.25 and its two-hundred day moving average is $54.46. The stock has a market cap of $808.73 million, a price-to-earnings ratio of 31.47 and a beta of 0.94.

Invesco QQQ Income Advantage ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 20th were issued a $0.4756 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%.

Institutional Investors Weigh In On Invesco QQQ Income Advantage ETF

A number of hedge funds and other institutional investors have recently modified their holdings of QQA. LPL Financial LLC raised its holdings in Invesco QQQ Income Advantage ETF by 62.1% during the fourth quarter. LPL Financial LLC now owns 856,939 shares of the company’s stock worth $45,435,000 after purchasing an additional 328,405 shares during the last quarter. Cetera Investment Advisers raised its position in Invesco QQQ Income Advantage ETF by 74.4% during the first quarter. Cetera Investment Advisers now owns 383,782 shares of the company’s stock worth $19,142,000 after acquiring an additional 163,730 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Invesco QQQ Income Advantage ETF by 11.7% during the 1st quarter. Private Advisor Group LLC now owns 189,100 shares of the company’s stock worth $9,432,000 after purchasing an additional 19,776 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Invesco QQQ Income Advantage ETF by 331.5% during the second 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 last quarter. Finally, UBS Group AG boosted its stake in shares of Invesco QQQ Income Advantage ETF by 42.3% during the 4th quarter. UBS Group AG now owns 168,460 shares of the company’s stock worth $8,932,000 after purchasing an additional 50,055 shares during the last quarter.

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.