INVESCO DYNAMICS FUND INC /
24F-2NT, 1997-06-23
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                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  FORM 24F-2
                       Annual Notice of Securities Sold
                            Pursuant to Rule 24f-2

1.    Name and address of issuer:

              INVESCO Dynamics Fund, Inc.
              7800 E. Union Avenue
              Denver, Colorado 80237

2.    Name of each series or class of funds for which this notice is
      filed:

              INVESCO Dynamics Fund, Inc.

3.    Investment Company Act File Number:   811-1474

      Securities Act File Number:  2-26125

4.    Last day of fiscal year for which this notice is filed:

              April 30, 1997

5.    Check box if this  notice is being  filed more than 180 days after the
      close of the issuer's  fiscal year for  purposes of  reporting  securities
      sold after the close of the  fiscal  year but  before  termination  of the
      issuer's 24f-2 declaration:


             ------

6.    Date of termination of issuer's declaration under rule 24f-
      2(a)(1), if applicable (see Instruction A.6):

             Not Applicable

7.    Number and amount of  securities  of the same class or series which had
      been  registered  under the  Securities Act of 1933 other than pursuant to
      Rule  24f-2 in a prior  fiscal  year,  but  which  remained  unsold at the
      beginning of the fiscal year:

              0




<PAGE>



8.    Number and amount of securities registered during the
      fiscal year other than pursuant to Rule 24f-2:

              0

9.    Number and aggregate sale price of securities sold during the
      fiscal year:

              Shares = 67,863,317         $901,376,390

10.   Number and aggregate  sale price of securities  sold during the fiscal
      year in reliance upon registration pursuant to Rule 24f- 2:

              Shares = 67,863,317         $901,376,390

11.   Number and  aggregate  sales price of  securities  issued  during the
      fiscal year in connection with dividend  reinvestment plans, if applicable
      (see Instruction B.7):

              N/A

12.   Calculation of registration fee:

      (i)      Aggregate sale price of securities
               sold during the fiscal year in
               reliance on Rule 24f-2
               (from Item 10):                                 $  901,376,390
                                                               --------------

      (ii)     Aggregate price of shares issued
               in connection with dividend
               reinvestment plans (from Item 11,
               if applicable):                                 +     N/A
                                                               --------------  
      (iii)    Aggregate price of shares redeemed
               or repurchased during the fiscal
               year (if applicable):                           -  809,251,030
                                                               --------------

      (iv)     Aggregate price of shares redeemed
               or repurchased and previously
               applied as a reduction to filing
               fees pursuant to Rule 24e-2
               (if applicable):                                +     N/A

                                                               --------------


<PAGE>



      (v)      Net aggregate price of securities
               sold and issued during the fiscal
               year in reliance on Rule 24f-2
               [line (i), plus line (ii), less
               line (iii), plus line (iv)]
               if applicable:                                      92,125,360
                                                               --------------   
      (vi)     Multiplier prescribed by Section
               6(b) of the Securities Act of 1933
               or other applicable law or regula-
               tion (see Instruction C.6):                    x      1/3300
                                                               --------------

      (vii)    Fee due [line (i) or line(v)
               multipled by line (vi)]:                       $     27,916.78
                                                              ===============

Instruction:     Issuers should complete lines (ii), (iii), (iv), and
                 (v) only if the form is being filed within 60 days
                 after the close of the issuer's fiscal year.  See
                 Instruction C.3.

13.   Check  box if fees are being  remitted  to the  Commission's  lockbox
      depository  as  described  in  Section  3a of the Commission's Rules of
      Information and Other Procedures (17 CFR 202.3a).

                X
              ---- 
Date of mailing or wire  transfer  of filing  fees to the  Commission's  lockbox
depository:

              June 20, 1997

                                  SIGNATURES

This report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the date indicated.

                              INVESCO Dynamics Fund, Inc.


                              By: /s/ Dan J. Hesser
                                  -------------------------
                                  Dan J. Hesser
                                  President & Chief Executive Officer


                              Date:   June 23, 1997









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