Invesco Delays Proxy Vote on the Future of $400 Billion QQQ Fund

Invesco Ltd.’s proxy vote to decide the future of famed tech fund QQQ is being postponed.

The asset manager announced Friday that the shareholder meeting is being adjourned until December 5th, according to a filing with the Securities and Exchange Commission. Owners of the nearly $400 billion Invesco QQQ Trust Series 1 were being asked to vote to approve converting it into an open-ended exchange-traded fund from a unit investment trust, a little-used structure dating back to the birth of the first ETFs in the 1990s.

“Between now and Friday, December 5, shareholder votes on the proposals to restructure ...