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NEW YORK - Nasdaq (NASDAQ:NDAQ), the $51.14 billion market cap exchange operator currently trading near its 52-week high, confirmed Friday it is aware of the preliminary proxy filed by Invesco QQQ Trust containing proposals to change the Trust’s structure. According to InvestingPro data, Nasdaq has demonstrated strong financial health with a "GOOD" overall rating and impressive revenue of $7.82 billion in the last twelve months.
The exchange operator stated that the proposed structural changes would not alter Nasdaq’s licensing arrangements with Invesco or affect the administration of the Nasdaq-100 Index. According to the statement, if shareholders approve the proposals, Invesco would pay the associated license fee from its unitary management fee, rather than having QQQ pay the fee directly as it currently does.
Nasdaq indicated it had been in discussions with Invesco as the asset manager explored bringing these proposals to shareholders. The company emphasized its commitment to maintaining its strategic partnership with Invesco and continuing to deliver the benchmark index used by investors.
The QQQ Trust, one of the world’s largest exchange-traded funds, tracks the Nasdaq-100 Index, which consists of 100 of the largest non-financial companies listed on the Nasdaq stock exchange.
Nasdaq, which provides technology and services to corporate clients, investment managers, banks, brokers, and exchange operators, made the announcement in a press release statement. The company did not provide additional details about the specific proposals contained in the preliminary proxy or when shareholders would vote on them.
In other recent news, Nasdaq OMX Group has seen several analyst firms adjust their outlooks on the company. Piper Sandler raised its price target for Nasdaq to $97, citing reduced sensitivity to trading volumes and potential catalysts like an improved capital markets environment. Jefferies also increased its price target to $86, driven by stronger market services revenue projections and an upward revision in index revenue estimates for the second quarter of 2025. UBS followed suit, raising its target to $95, attributing the increase to elevated trading activity in US options and European equities, along with stronger index business performance. Additionally, Raymond James adjusted its price target to $96, highlighting Nasdaq’s financial technology software businesses and its robust index franchise. Meanwhile, short interest in Nasdaq securities rose to 16.93 billion shares by the end of June 2025, with an increase in the number of securities with short positions. These developments reflect a mix of optimism about Nasdaq’s growth prospects and ongoing market dynamics.
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