iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) Short Interest Up 993.9% in July

iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 67,458 shares, a growth of 993.9% from the June 30th total of 6,167 shares. Based on an average trading volume of 134,002 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.9% of the shares of the stock are sold short.

iShares Nasdaq Top 30 Stocks ETF Stock Performance

Shares of QTOP traded down $0.49 during mid-day trading on Friday, hitting $35.80. 201,907 shares of the company were exchanged, compared to its average volume of 196,632. The stock has a market cap of $280.67 million, a price-to-earnings ratio of 33.35 and a beta of 1.38. iShares Nasdaq Top 30 Stocks ETF has a 1-year low of $28.42 and a 1-year high of $39.41. The company has a 50 day moving average of $37.76 and a 200-day moving average of $34.28.

iShares Nasdaq Top 30 Stocks ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a dividend of $0.0337 per share. This is an increase from iShares Nasdaq Top 30 Stocks ETF’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, June 15th. This represents a $0.13 annualized dividend and a yield of 0.4%.

Hedge Funds Weigh In On iShares Nasdaq Top 30 Stocks ETF

Several hedge funds and other institutional investors have recently made changes to their positions in QTOP. Mascagni Wealth Management Inc. purchased a new position in shares of iShares Nasdaq Top 30 Stocks ETF in the first quarter valued at approximately $368,000. Cetera Investment Advisers increased its position in shares of iShares Nasdaq Top 30 Stocks ETF by 26.5% during the first quarter. Cetera Investment Advisers now owns 27,238 shares of the company’s stock worth $815,000 after purchasing an additional 5,699 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of iShares Nasdaq Top 30 Stocks ETF during the first quarter worth approximately $1,871,000. ATX Financial Planning LLC acquired a new position in iShares Nasdaq Top 30 Stocks ETF in the 1st quarter valued at $483,000. Finally, PFG Investments LLC acquired a new position in iShares Nasdaq Top 30 Stocks ETF in the 1st quarter valued at $784,000.

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.