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

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 14,012 shares, a decline of 68.5% from the July 30th total of 44,417 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 116,014 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Invesco QQQ Income Advantage ETF

A number of hedge funds have recently bought and sold shares of QQA. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Invesco QQQ Income Advantage ETF during the 4th quarter worth $3,930,000. Western Wealth Management LLC raised its stake in Invesco QQQ Income Advantage ETF by 105.1% in the fourth quarter. Western Wealth Management LLC now owns 32,510 shares of the company’s stock valued at $1,724,000 after purchasing an additional 16,660 shares in the last quarter. Prospera Financial Services Inc lifted its position in Invesco QQQ Income Advantage ETF by 471.5% during the fourth quarter. Prospera Financial Services Inc now owns 25,260 shares of the company’s stock worth $1,340,000 after purchasing an additional 20,840 shares during the period. Private Advisor Group LLC lifted its position in Invesco QQQ Income Advantage ETF by 11.7% during the first 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 period. Finally, UBS Group AG grew its stake in Invesco QQQ Income Advantage ETF by 42.3% during the fourth quarter. UBS Group AG now owns 168,460 shares of the company’s stock worth $8,932,000 after buying an additional 50,055 shares in the last quarter.

Invesco QQQ Income Advantage ETF Stock Up 0.1%

NASDAQ:QQA opened at $55.71 on Thursday. The stock’s 50 day moving average price is $56.11 and its two-hundred day moving average price is $54.55. The firm has a market capitalization of $801.11 million, a price-to-earnings ratio of 31.47 and a beta of 0.94. Invesco QQQ Income Advantage ETF has a 12-month low of $48.20 and a 12-month high of $58.53.

Invesco QQQ Income Advantage ETF Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 24th will be issued a dividend of $0.4827 per share. The ex-dividend date of this dividend is Monday, August 24th.

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.