Invesco shares surged after announcing plans to change the structure of its QQQ ETF to generate revenue from fees. This move could make the fund more profitable for Invesco and potentially add $700 million annually. Shareholders will vote on the proposal on Oct. 24, along with other changes. The ETF’s assets under management are estimated at $355 billion with a 0.2% expense ratio. Invesco stock has gained 15% and nearly 25% in value over the past year. If approved, this shift could provide a significant new revenue stream for Invesco.

Read more at Yahoo Finance: Why Invesco Stock Is Soaring After Proposing This Change to Popular QQQ ETF