Will State Street Follow Invesco’s Lead? Never Say Never.
State Street is in a slightly different situation.
State Street Global Advisors SPDR S&P 500 ETF Trust (SPY) signage on the floor of the New York Stock Exchange (NYSE) in New York, US.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Welcome to ETF IQ, a weekly newsletter dedicated to the $14 trillion global ETF industry. I'm Bloomberg News reporter and anchor Katie Greifeld.
Last week, we discussed Invesco attempting to crack open its piggy bank and share in some of the massive profits that QQQ spins off. This week, we got a few more specifics on what it might look like should Invesco succeed in converting QQQ from a unit investment trust into an open-ended fund: about $150 million per year, give or take.