ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Sees Large Drop in Short Interest

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 14,687 shares, a decline of 56.7% from the May 14th total of 33,893 shares. Based on an average daily volume of 61,797 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On ProShares Nasdaq-100 High Income ETF

A number of hedge funds have recently bought and sold shares of IQQQ. NewEdge Advisors LLC grew its position in shares of ProShares Nasdaq-100 High Income ETF by 441.3% in the second quarter. NewEdge Advisors LLC now owns 655 shares of the company’s stock valued at $27,000 after purchasing an additional 534 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of ProShares Nasdaq-100 High Income ETF during the 3rd quarter worth about $82,000. Ulland Investment Advisors LLC lifted its position in shares of ProShares Nasdaq-100 High Income ETF by 800.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 3,150 shares of the company’s stock worth $140,000 after purchasing an additional 2,800 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in ProShares Nasdaq-100 High Income ETF during the 4th quarter valued at approximately $200,000. Finally, Kestra Advisory Services LLC bought a new stake in ProShares Nasdaq-100 High Income ETF during the 4th quarter valued at approximately $233,000.

ProShares Nasdaq-100 High Income ETF Stock Up 2.8%

Shares of IQQQ stock opened at $49.49 on Friday. ProShares Nasdaq-100 High Income ETF has a 12 month low of $38.80 and a 12 month high of $51.66. The company has a market cap of $406.81 million, a PE ratio of 34.31 and a beta of 1.20. The business’s 50 day moving average is $47.36 and its two-hundred day moving average is $45.35.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 5th. Investors of record on Monday, June 1st were paid a $0.243 dividend. The ex-dividend date was Monday, June 1st.

About ProShares Nasdaq-100 High Income ETF

The ProShares Nasdaq-100 High Income ETF (IQQQ) is an exchange-traded fund that is based on the Nasdaq-100 Daily Covered Call index. The fund tracks an index pursuing a daily covered call writing strategy on Nasdaq-100 stocks. The fund seeks to generate a high level of income combined with the performance returns of the Nasdaq-100 Index over the long term.