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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 102,100 shares, a growth of 48.0% from the May 15th total of 69,000 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 58,300 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its stake in shares of ProShares Nasdaq-100 High Income ETF by 27.4% during the 4th quarter. Sanctuary Advisors LLC now owns 58,763 shares of the company’s stock worth $2,549,000 after purchasing an additional 12,640 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of ProShares Nasdaq-100 High Income ETF in the fourth quarter valued at $51,000. Steward Partners Investment Advisory LLC increased its holdings in ProShares Nasdaq-100 High Income ETF by 136.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 135,045 shares of the company’s stock worth $5,765,000 after buying an additional 77,862 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ProShares Nasdaq-100 High Income ETF during the fourth quarter worth $3,070,000. Finally, Eldridge Investment Advisors Inc. acquired a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter valued at $2,052,000.

ProShares Nasdaq-100 High Income ETF Trading Up 1.4%

Shares of ProShares Nasdaq-100 High Income ETF stock traded up $0.54 during trading hours on Monday, reaching $39.51. 72,264 shares of the company’s stock were exchanged, compared to its average volume of 43,035. The stock has a market cap of $129.99 million, a P/E ratio of 30.89 and a beta of 1.21. The company has a 50 day moving average of $37.40 and a two-hundred day moving average of $40.48. ProShares Nasdaq-100 High Income ETF has a fifty-two week low of $33.00 and a fifty-two week high of $45.21.

ProShares Nasdaq-100 High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, June 6th. Investors of record on Monday, June 2nd were given a dividend of $0.4233 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.10. This represents a $5.08 annualized dividend and a yield of 12.86%.

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.