Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Stock Short Interest Climbs 412.9%

Invesco QQQ Income Advantage ETF (NASDAQ:QQA) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 69,345 shares, a growth of 412.9% from the September 30th total of 13,521 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 137,294 shares, the days-to-cover ratio is currently 0.5 days.

Invesco QQQ Income Advantage ETF Price Performance

Shares of QQA traded down $0.73 during trading hours on Thursday, hitting $54.98. The company’s stock had a trading volume of 45,939 shares, compared to its average volume of 118,645. The company has a market cap of $914.23 million, a price-to-earnings ratio of 31.47 and a beta of 0.93. The business has a 50 day simple moving average of $56.36 and a two-hundred day simple moving average of $54.84. Invesco QQQ Income Advantage ETF has a 52-week low of $48.20 and a 52-week high of $58.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers lifted its holdings in Invesco QQQ Income Advantage ETF by 74.4% during the 1st quarter. Cetera Investment Advisers now owns 383,782 shares of the company’s stock worth $19,142,000 after purchasing an additional 163,730 shares in the last quarter. Private Advisor Group LLC boosted its stake in Invesco QQQ Income Advantage ETF by 11.7% in 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 period. International Assets Investment Management LLC boosted its stake in Invesco QQQ Income Advantage ETF by 8,554.6% in the 3rd quarter. International Assets Investment Management LLC now owns 110,000 shares of the company’s stock worth $6,283,000 after purchasing an additional 108,729 shares during the period. SageGuard Financial Group LLC grew its holdings in Invesco QQQ Income Advantage ETF by 4.2% during the 1st quarter. SageGuard Financial Group LLC now owns 111,874 shares of the company’s stock valued at $5,580,000 after buying an additional 4,506 shares in the last quarter. Finally, Brookstone Capital Management purchased a new position in Invesco QQQ Income Advantage ETF during the 3rd quarter valued at about $4,220,000.

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.