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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 14,444 shares, a growth of 80.6% from the June 30th total of 7,996 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 57,028 shares, the days-to-cover ratio is currently 0.3 days.

ProShares Nasdaq-100 High Income ETF Stock Performance

IQQQ stock traded up $1.55 during trading on Thursday, reaching $46.84. 43,349 shares of the company traded hands, compared to its average volume of 64,021. The business has a 50 day simple moving average of $49.28 and a 200 day simple moving average of $46.33. ProShares Nasdaq-100 High Income ETF has a 12 month low of $40.43 and a 12 month high of $51.66. The company has a market capitalization of $392.05 million, a price-to-earnings ratio of 34.31 and a beta of 1.19.

ProShares Nasdaq-100 High Income ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.4592 per share. This represents a c) annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IQQQ. NewEdge Advisors LLC raised its stake in shares of ProShares Nasdaq-100 High Income ETF by 441.3% during the 2nd quarter. NewEdge Advisors LLC now owns 655 shares of the company’s stock worth $27,000 after acquiring an additional 534 shares in the last quarter. Aptus Capital Advisors LLC acquired a new stake in ProShares Nasdaq-100 High Income ETF in the third quarter valued at approximately $82,000. Cornerstone Wealth Management LLC acquired a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter valued at approximately $200,000. Kestra Advisory Services LLC purchased a new position in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $233,000. Finally, Private Trust Co. NA grew its holdings in ProShares Nasdaq-100 High Income ETF by 231.6% in the fourth quarter. Private Trust Co. NA now owns 5,727 shares of the company’s stock worth $255,000 after purchasing an additional 4,000 shares during 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.