Invesco’s QQQ fund, worth $399 billion, will transition from a unit investment trust to an open-end fund after receiving enough shareholder votes. This change will lower fees from 20 to 18 basis points and unlock significant revenue for Invesco.

Shareholders will no longer face outreach blitz as the transition is finalized. Invesco’s QQQ has been a successful ETF this year, returning over 20% year to date, with substantial net inflows despite some outflows in November.

The move allows Invesco to reinvest income and utilize tools for better outcomes. QQQ is the fourth-largest US ETF, with $16 billion in net inflows this year, totaling $50 billion over three years. With peace restored, the end of calls brings relief and quiet to investors.

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