Invesco jumps to more than 2-year high after filing to reclassify $360 bln ETF

Invesco

18/07/2025 17:23

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** Shares of Invesco IVZ.N jumped ~12% to $19.39 on Friday after the investment manager filed paperwork to reclassify its popular QQQ ETF QQQ.O into a management company

** IVZ rose to its highest level since Feb. 2023 and biggest daily pct gain since early April

** An IVZ subsidiary filed paperwork with the SEC, asking permission from QQQ beneficial owners to operate the ETF as a management company, according to a press release  on Friday

** An IVZ subsidiary will be appointed as investment advisor to the new management company, and its management fee will fall to 0.18% from 0.20%, according to the statement

** Investment management company advisers can charge potentially lucrative fees such as performance fees

** QQQ tracks the Nasdaq 100 index .NDX and has a market cap of ~$360 bln. It is up ~10 YTD

 (Reporting by Chibuike Oguh in New York)

 ((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))