Invesco's QQQ Conversion Proposal Falls Short of 51% Threshold

Invesco QQQ shareholders are voting on converting the fund to a standard ETF, which would allow the company to capture more of the $800 million in annual fee revenue generated by the fund. The proposal requires a 51% vote for approval and is currently at 50%. If approved, the conversion would lower the expense ratio from 0.2% to 0.18%.