Invesco QQQ Gets Green Light For Modernization

The Invesco QQQ Trust Series 1 (QQQ) is heading into a new era. On Friday, December 19th, Invesco announced that QQQ's shareholders voted to approve a series of proposals to modernize the longstanding fund. This includes shifting QQQ from a unit investment trust ETF into an open-end fund ETF, along with pivoting its governance structure towards a board of trustees. Notably, QQQ's expense ratio will also be dropping from 0.20% to 0.18%. The implications that these changes will bring to the fund are significa ...