Invesco Ltd. said that it’s adjourning its proxy vote to convert popular tech fund QQQ into an open-ended ETF to allow more time to garner the needed 51% approval from shareholders.
The asset manager announced Friday that the shareholder meeting is being adjourned until Dec. 19th, according to a filing with the Securities and Exchange Commission. Invesco said in the filing that the firm is “very close to that threshold,” with more than 50% of shareholders voting in favor of conversion.
Owners of the $409 billion Invesco QQQ Trust Series 1 were being asked to vote to approve converting it ...
