ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Short Interest Down 56.7% in May

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 14,687 shares, a drop of 56.7% from the May 14th total of 33,893 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 61,797 shares, the short-interest ratio is currently 0.2 days.

ProShares Nasdaq-100 High Income ETF Price Performance

Shares of IQQQ stock opened at $49.49 on Friday. ProShares Nasdaq-100 High Income ETF has a fifty-two week low of $38.80 and a fifty-two week high of $51.66. The stock’s 50-day moving average is $47.36 and its two-hundred day moving average is $45.35. The firm has a market cap of $406.81 million, a P/E ratio of 34.31 and a beta of 1.20.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 5th. Investors of record on Monday, June 1st were issued a $0.243 dividend. The ex-dividend date was Monday, June 1st.

Institutional Trading of ProShares Nasdaq-100 High Income ETF

A number of institutional investors have recently added to or reduced their stakes in IQQQ. NewEdge Advisors LLC increased 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 purchasing an additional 534 shares during the last quarter. Aptus Capital Advisors LLC acquired a new stake in shares of ProShares Nasdaq-100 High Income ETF in the 3rd quarter valued at $82,000. Ulland Investment Advisors LLC lifted its stake in shares of ProShares Nasdaq-100 High Income ETF by 800.0% in the 4th quarter. Ulland Investment Advisors LLC now owns 3,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,800 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $200,000. Finally, Kestra Advisory Services LLC bought a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $233,000.

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.