Invesco Falls 5% After BlackRock ETF Filing

Invesco shares dropped 5% on Monday after BlackRock filed an SEC application for a new iShares Nasdaq-100 ETF (ticker IQQ).
The proposed BlackRock ETF would directly compete with Invesco’s QQQ Trust, which holds about $376 billion in assets under management.
Nasdaq said expanding Nasdaq-100 access aims to improve efficiency, liquidity and benchmark‑linked exposure for investors.
Only a few ETFs currently track the Nasdaq-100, according to VettaFi’s database, highlighting the market’s limited competition.