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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 11,955 shares, a growth of 92.0% from the October 15th total of 6,227 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 48,228 shares, the short-interest ratio is currently 0.2 days.

ProShares Nasdaq-100 High Income ETF Price Performance

Shares of IQQQ stock traded down $0.53 during trading hours on Friday, hitting $44.51. The company had a trading volume of 36,517 shares, compared to its average volume of 58,992. The company’s fifty day moving average is $47.43 and its 200 day moving average is $46.92. 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 stock has a market capitalization of $361.87 million, a PE ratio of 32.18 and a beta of 1.24.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, September 1st were issued a $0.2296 dividend. This is a drop from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.2386. The ex-dividend date was Tuesday, September 1st. This represents a $2.76 annualized dividend and a yield of 6.2%.

Institutional Trading of ProShares Nasdaq-100 High Income ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in ProShares Nasdaq-100 High Income ETF by 4.7% during the first quarter. Royal Bank of Canada now owns 453,905 shares of the company’s stock worth $18,924,000 after purchasing an additional 20,268 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of ProShares Nasdaq-100 High Income ETF by 19.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 210,312 shares of the company’s stock worth $10,279,000 after buying an additional 34,008 shares during the period. PMG Family Office LLC grew its stake in shares of ProShares Nasdaq-100 High Income ETF by 0.6% in the third quarter. PMG Family Office LLC now owns 53,653 shares of the company’s stock valued at $2,622,000 after buying an additional 325 shares in the last quarter. Benchmark Financial LLC grew its stake in shares of ProShares Nasdaq-100 High Income ETF by 8.4% in the third quarter. Benchmark Financial LLC now owns 35,540 shares of the company’s stock valued at $1,737,000 after buying an additional 2,767 shares in the last quarter. Finally, Essex Financial Services Inc. acquired a new stake in shares of ProShares Nasdaq-100 High Income ETF in the third quarter valued at $1,410,000.

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.