Invesco QQQ Trust seeks to change its structure from a “unit investment trust” to an open-end fund, potentially increasing revenue and lowering expense ratios for the $355 billion fund. If approved, shareholders could see earnings increase by up to $70 million, with Invesco benefiting as well.

The move to an open-end fund would make Invesco QQQ’s trustee, replacing BNY Mellon, and lower the fund’s expense ratio by 2 basis points to 0.18%. The fund currently earns $711 million annually, with $180 million going towards marketing. The change could lead to a 15% increase in Invesco’s stock price.

Invesco’s QQQ Trust Series 1 fund has $355 billion in assets under management, ranking it fifth-highest in ETFs by assets. The current expense ratio is 0.2%, with QQQ up 10% year-to-date. The shift to an open-end fund aims to benefit both Invesco and investors by offering fee reductions and new investment opportunities.

Invesco’s QQQ Trust is seeking approval to transition from a “unit investment trust” to an open-end fund, potentially increasing revenue and lowering expense ratios. The move could benefit both Invesco and investors, offering fee reductions and new investment opportunities.

Read more at Yahoo Finance: Why Invesco Wants QQQ to Become an Open-End Fund