Invesco Capital Management seeks to convert Invesco QQQ Trust from a unit investment trust to an open-end fund structure to earn management fees. This move could allow Invesco to collect 0.18% in management fees from QQQ’s $352.7 billion in assets, reducing shareholder expense ratios and marketing spending.

Shareholders will vote on proposals at a special meeting on Oct. 24 to amend QQQ’s governing documents, elect trustees, and approve an investment advisory agreement. The proposed conversion aims to monetize one of the market’s largest ETFs and provide greater operational flexibility, subjecting QQQ to additional regulatory protections.

The conversion of QQQ, which launched in 1999, would not affect its investment objective of tracking the Nasdaq-100 Index or create taxable events for shareholders. The proposed open-end fund structure would offer benefits such as securities lending and custom redemption baskets, with Bank of New York Mellon continuing to provide custodial and administrative services.

Read more at Yahoo Finance: Invesco Eyes Profits From QQQ Structure Switch