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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 6,227 shares, a decline of 43.1% from the September 30th total of 10,945 shares. Based on an average daily trading volume, of 47,197 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

ProShares Nasdaq-100 High Income ETF Stock Performance

Shares of ProShares Nasdaq-100 High Income ETF stock opened at $44.78 on Tuesday. ProShares Nasdaq-100 High Income ETF has a fifty-two week low of $40.43 and a fifty-two week high of $51.66. The company has a market capitalization of $372.12 million, a P/E ratio of 34.31 and a beta of 1.21. The company has a fifty day moving average of $48.06 and a 200 day moving average of $46.94.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, September 1st were given a $0.2296 dividend. The ex-dividend date was Tuesday, September 1st. This is a negative change from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.2386. This represents a $2.76 annualized dividend and a dividend yield of 6.2%.

Hedge Funds Weigh In On ProShares Nasdaq-100 High Income ETF

A number of hedge funds have recently made changes to their positions in IQQQ. Royal Bank of Canada raised its stake in ProShares Nasdaq-100 High Income ETF by 4.7% during the 1st quarter. Royal Bank of Canada now owns 453,905 shares of the company’s stock valued at $18,924,000 after purchasing an additional 20,268 shares during the period. PFG Investments LLC raised its position in shares of ProShares Nasdaq-100 High Income ETF by 12.6% during the first quarter. PFG Investments LLC now owns 71,773 shares of the company’s stock valued at $2,992,000 after buying an additional 8,052 shares during the last quarter. PMG Family Office LLC raised its position in shares of ProShares Nasdaq-100 High Income ETF by 0.6% during the third quarter. PMG Family Office LLC now owns 53,653 shares of the company’s stock valued at $2,622,000 after buying an additional 325 shares during the last quarter. Benchmark Financial LLC lifted its holdings in shares of ProShares Nasdaq-100 High Income ETF by 8.4% in the third quarter. Benchmark Financial LLC now owns 35,540 shares of the company’s stock worth $1,737,000 after buying an additional 2,767 shares in the last quarter. Finally, Clarus Wealth Advisors lifted its holdings in shares of ProShares Nasdaq-100 High Income ETF by 5.4% in the second quarter. Clarus Wealth Advisors now owns 24,443 shares of the company’s stock worth $1,190,000 after buying an additional 1,249 shares in the last quarter.

ProShares Nasdaq-100 High Income ETF Company Profile

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.