Invesco QQQ Income Advantage ETF (NASDAQ:QQA) Reaches New 1-Year High – Still a Buy?

Invesco QQQ Income Advantage ETF (NASDAQ:QQA)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $57.51 and last traded at $57.37, with a volume of 24074 shares changing hands. The stock had previously closed at $56.66.

Invesco QQQ Income Advantage ETF Stock Performance

The firm has a 50 day simple moving average of $53.27 and a two-hundred day simple moving average of $53.06. The stock has a market cap of $704.14 million, a P/E ratio of 31.47 and a beta of 0.90.

Invesco QQQ Income Advantage ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 18th were paid a dividend of $0.4861 per share. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Monday, May 18th. 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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Foundations Investment Advisors LLC raised its stake in shares of Invesco QQQ Income Advantage ETF by 4.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 7,012 shares of the company’s stock worth $369,000 after buying an additional 298 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Invesco QQQ Income Advantage ETF by 30.2% in the 1st quarter. Sunbelt Securities Inc. now owns 1,324 shares of the company’s stock worth $66,000 after buying an additional 307 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Invesco QQQ Income Advantage ETF by 4.4% in the 1st quarter. Kestra Advisory Services LLC now owns 10,625 shares of the company’s stock worth $530,000 after buying an additional 448 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Invesco QQQ Income Advantage ETF in the 3rd quarter worth $25,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Invesco QQQ Income Advantage ETF in the 4th quarter worth $29,000.

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.