Invesco QQQ Income Advantage ETF Declares Dividend Increase

The Invesco QQQ Income Advantage ETF (NASDAQ: QQA) announced a monthly dividend on July 21, 2024, marking a significant increase in returns for investors. Shareholders on record as of this date will receive a dividend of $0.4371 per share, which is scheduled for distribution on July 25, 2024. This new dividend reflects an annualized payout of $5.24 and offers an attractive yield of 10.37%, up 4.1% from the prior monthly dividend of $0.42.

The ex-dividend date, which is crucial for investors looking to qualify for this payment, is also set for July 21, 2024. The announcement comes at a time when many investors are closely monitoring dividend yields in fluctuating markets.

Current Stock Performance

As of Wednesday, shares of the Invesco QQQ Income Advantage ETF opened at $50.56. The ETF has demonstrated a range of performance over the past year, with a 52-week low of $39.86 and a 52-week high of $52.58. The fund’s fifty-day moving average stands at $49.29, while the two-hundred-day moving average is noted at $48.35. With a market capitalization of $279.60 million and a price-to-earnings (P/E) ratio of 31.47, the ETF remains a significant player in the market.

Institutional Investment Trends

Recent filings with the U.S. Securities and Exchange Commission (SEC) reveal that institutional interest in the Invesco QQQ Income Advantage ETF is on the rise. Specifically, Jane Street Group LLC increased its stake in the ETF by 18.7% during the first quarter of 2024. The hedge fund acquired an additional 6,849 shares, bringing its total holdings to 43,396 shares. As of its latest filing, Jane Street Group LLC’s investment in the ETF is valued at approximately $1,990,000, representing about 0.95% of the fund.

The Invesco QQQ Income Advantage ETF is designed to primarily invest in large-cap equities. It operates as an actively managed fund-of-funds, utilizing equity securities and exchange-traded funds (ETFs) to replicate the performance of the NASDAQ-100 Index. Additionally, the fund employs an options-based income strategy, incorporating equity-linked notes (ELNs) for enhanced upside participation while providing downside protection. Launched on July 17, 2024, the ETF is managed by Invesco, a well-established investment firm.

Investors are encouraged to stay informed about forthcoming dividends and market trends, as the Invesco QQQ Income Advantage ETF continues to adapt to changing financial landscapes.