Invesco (IVZ) Surges 15.3%: Is This an Indication of Further Gains?

Shares of Invesco rose for a third straight session on Friday, briefly touching a 52-week high of $20.05. The rally followed news that the company is seeking shareholder approval to convert the Invesco QQQ Trust from a unit investment trust to an open-end ETF structure. The proposed change would allow the company to earn revenues and potential profits from the fund, whereas under the current structure, it can only recover marketing costs. The move sparked strong investor interest, fueling the stock's upward ...