iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) Sees Significant Drop in Short Interest

iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) saw a significant decline in short interest in September. As of September 30th, there was short interest totaling 83,358 shares, a decline of 54.7% from the September 15th total of 184,207 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 180,368 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. grew its holdings in iShares Nasdaq Top 30 Stocks ETF by 315.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,552 shares of the company’s stock worth $59,000 after acquiring an additional 1,178 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of iShares Nasdaq Top 30 Stocks ETF in the first quarter worth about $57,000. Mascagni Wealth Management Inc. bought a new position in shares of iShares Nasdaq Top 30 Stocks ETF in the first quarter worth about $368,000. ATX Financial Planning LLC bought a new position in shares of iShares Nasdaq Top 30 Stocks ETF in the first quarter worth about $483,000. Finally, PFG Investments LLC acquired a new position in shares of iShares Nasdaq Top 30 Stocks ETF during the first quarter worth approximately $784,000.

iShares Nasdaq Top 30 Stocks ETF Price Performance

Shares of QTOP stock traded down $0.09 during trading hours on Tuesday, hitting $39.33. 172,836 shares of the company’s stock were exchanged, compared to its average volume of 183,075. The stock’s 50-day moving average is $38.07 and its 200-day moving average is $36.72. The stock has a market cap of $355.54 million, a price-to-earnings ratio of 33.35 and a beta of 1.38. iShares Nasdaq Top 30 Stocks ETF has a 52 week low of $28.71 and a 52 week high of $40.50.

iShares Nasdaq Top 30 Stocks ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 15th were issued a $0.0281 dividend. This is a negative change from iShares Nasdaq Top 30 Stocks ETF’s previous quarterly dividend of $0.0337. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, September 15th.

iShares Nasdaq Top 30 Stocks ETF Company Profile

The iShares Nasdaq Top 30 Stocks ETF (QTOP) is an exchange-traded fund that is based on the Nasdaq-100 Top 30 index. The fund aims to track an index composed of the 30 largest companies by market-cap from the Nasdaq-100 Index. The components are weighted by market-cap with capping limits QTOP was launched on Oct 24, 2024 and is issued by BlackRock.