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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 7,708 shares, a decline of 71.9% from the August 31st total of 27,473 shares. Based on an average trading volume of 42,416 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in ProShares Nasdaq-100 High Income ETF by 4.8% in the second quarter. Envestnet Asset Management Inc. now owns 5,083 shares of the company’s stock worth $258,000 after purchasing an additional 234 shares during the period. Cary Street Partners Financial LLC grew its holdings in shares of ProShares Nasdaq-100 High Income ETF by 5.4% in the fourth quarter. Cary Street Partners Financial LLC now owns 6,640 shares of the company’s stock worth $295,000 after purchasing an additional 340 shares during the last quarter. CAP Partners LLC increased its stake in ProShares Nasdaq-100 High Income ETF by 6.5% in the 1st quarter. CAP Partners LLC now owns 8,952 shares of the company’s stock worth $373,000 after buying an additional 550 shares during the period. Clarus Wealth Advisors increased its stake in ProShares Nasdaq-100 High Income ETF by 5.4% in the 2nd 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 during the period. Finally, Wick Capital Partners LLC lifted its holdings in ProShares Nasdaq-100 High Income ETF by 7.8% during the 4th quarter. Wick Capital Partners LLC now owns 17,814 shares of the company’s stock valued at $792,000 after buying an additional 1,292 shares in the last quarter.

ProShares Nasdaq-100 High Income ETF Stock Performance

Shares of IQQQ opened at $49.13 on Friday. 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’s fifty day moving average is $48.08 and its 200 day moving average is $47.44. The stock has a market capitalization of $410.73 million, a PE ratio of 34.31 and a beta of 1.22.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, September 1st were issued a dividend of $0.2296 per share. This represents a $2.76 annualized dividend and a yield of 5.6%. 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.

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.