Reported 1 day ago
Invesco Ltd. (NYSE:IVZ) has seen a significant rise, with shares increasing by 15.28% over three consecutive days, closing at $19.92. This surge is attributed to plans to convert the QQQ ETF, which tracks the Nasdaq 100, into an open-traded fund, potentially leading to multi-million dollar profits for Invesco. The company filed a proxy statement seeking shareholder approval for this transition, which could lower expense ratios and enhance revenue generation.
Source: YAHOO