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

iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 89,609 shares, a drop of 41.3% from the April 30th total of 152,711 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 221,558 shares, the days-to-cover ratio is currently 0.4 days.

iShares Nasdaq Top 30 Stocks ETF Price Performance

QTOP traded down $0.42 during trading hours on Thursday, hitting $38.76. 24,731 shares of the stock were exchanged, compared to its average volume of 207,887. The stock has a 50-day simple moving average of $34.79 and a 200-day simple moving average of $32.82. iShares Nasdaq Top 30 Stocks ETF has a 12 month low of $26.64 and a 12 month high of $39.41. The stock has a market cap of $288.37 million, a price-to-earnings ratio of 33.35 and a beta of 1.37.

iShares Nasdaq Top 30 Stocks ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.0302 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.12 annualized dividend and a yield of 0.3%.

Institutional Trading of iShares Nasdaq Top 30 Stocks ETF

Several institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Advisors LLC increased its stake in iShares Nasdaq Top 30 Stocks ETF by 1.4% during the third quarter. Stratos Wealth Advisors LLC now owns 46,548 shares of the company’s stock valued at $1,447,000 after purchasing an additional 665 shares during the last quarter. EFG International AG bought a new stake in iShares Nasdaq Top 30 Stocks ETF during the fourth quarter valued at $32,000. Northwestern Mutual Wealth Management Co. bought a new stake in iShares Nasdaq Top 30 Stocks ETF during the second quarter valued at $48,000. Sound Income Strategies LLC bought a new stake in iShares Nasdaq Top 30 Stocks ETF during the first quarter valued at $57,000. Finally, Private Advisor Group LLC increased its stake in iShares Nasdaq Top 30 Stocks ETF by 4.6% during the first quarter. Private Advisor Group LLC now owns 48,164 shares of the company’s stock valued at $1,442,000 after purchasing an additional 2,100 shares during the last quarter.

About iShares Nasdaq Top 30 Stocks ETF

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.