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Invesco files Preliminary Proxy Statement to Reclassify Invesco QQQ Trust℠ , Series 1

1. Invesco Capital Management filed a proxy statement with the SEC. 2. The proxy seeks QQQ reclassification from a unit investment trust to a management company. 3. BNY Mellon may be replaced as QQQ's trustee if approved. 4. ICM to become QQQ's investment adviser with a reduced fee structure. 5. Proposed changes may improve QQQ’s expense ratio and advisory management.

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Why Bullish?

The potential reclassification and fee reduction for QQQ could enhance its attractiveness, paralleling past successful restructurings that boosted investor confidence and fund inflows.

How important is it?

The article describes significant operational changes within a major fund, likely influencing IVZ's overall market perception and investor interest.

Why Short Term?

Approved changes are likely to attract immediate investor interest in QQQ, possibly leading to short-term volatility and price adjustments.

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, /PRNewswire/ -- Invesco Capital Management LLC (ICM), an indirect wholly owned subsidiary of Invesco LTD (IVZ), has filed a preliminary proxy statement with the Securities and Exchange Commission (SEC) seeking the consent of the beneficial owners of Invesco QQQ TrustSM, Series 1 (QQQ) to take certain actions to operate QQQ in a manner that would result in a reclassification of QQQ under the Investment Company Act of 1940, as amended, from that of a "unit investment trust" to that of a "management company," with a subclassification as an "open-end company," all as defined in the 1940 Act.  If the proposals are approved, it is contemplated that the following will occur shortly thereafter: (i) The Bank of New York Mellon (BNY), QQQ's current Trustee will be replaced with a board of individual trustees (with BNY instead serving as QQQ's custodian, administrator and accounting agent, and transfer agent); (ii) ICM will be appointed as investment adviser to QQQ pursuant to an investment advisory agreement. The proposed investment advisory agreement contemplates a unitary fee of 18 basis points, reflecting an anticipated pro-forma reduction of 2 basis points to QQQ's current expense ratio of 20 basis points.  The preliminary proxy statement and letter to shareholders is available on the SEC's website here: https://www.sec.gov/Archives/edgar/data/1067839/000206159025000113/preliminaryproxy.htm About Invesco Ltd. Invesco Ltd. (TickerNYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed US$1.8 trillion in assets on behalf of clients worldwide as of March 31, 2025. For more information, visit www.invesco.com/corporate.  07/25  Contact: Stephanie Diiorio, [email protected], 212.278.9037 SOURCE Invesco Ltd. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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