Abstract During natural reading, attention constantly shifts across words, yet how linguistic properties (e.g., lexical frequency) impact the allocation of attention remains unclear. In this study, we co-registered MEG data and eye movements while participants read one-line sentences containing target words of either low or high lexical frequency. Using rapid invisible frequency tagging (RIFT), we simultaneously tracked attention to target and post-target words by flickering them at different frequencies. First, we provide neural evidence that attention was allocated simultaneously to both foveal target and parafoveal post-target words. Second, we found an early parafoveal lexical effect, whereby lower frequency targets demanded more attention prior to fixation, and, additionally, a foveal load effect whereby lower frequency targets reduced the amount of attention allocated to post-targets. Furthermore, flexibility in attention shifts between foveal and parafoveal processing correlated with individual reading speed. These results suggest attention is distributed across multiple words and is flexibly adjusted during reading.