Short Interest in ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Decreases By 57.2%

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 8,692 shares, a drop of 57.2% from the July 30th total of 20,327 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 41,832 shares, the short-interest ratio is presently 0.2 days.

ProShares Nasdaq-100 High Income ETF Stock Performance

NASDAQ:IQQQ traded down $0.27 on Friday, hitting $48.38. 20,870 shares of the stock were exchanged, compared to its average volume of 61,096. The stock has a market capitalization of $404.94 million, a price-to-earnings ratio of 34.31 and a beta of 1.22. ProShares Nasdaq-100 High Income ETF has a 52 week low of $40.43 and a 52 week high of $51.66. The company’s 50-day moving average price is $48.45 and its 200 day moving average price is $46.84.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 7th. Stockholders of record on Monday, August 3rd were given a dividend of $0.2386 per share. The ex-dividend date was Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 5.9%.

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. NewEdge Advisors LLC boosted its stake in ProShares Nasdaq-100 High Income ETF by 441.3% in the second quarter. NewEdge Advisors LLC now owns 655 shares of the company’s stock valued at $27,000 after acquiring an additional 534 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of ProShares Nasdaq-100 High Income ETF in the 3rd quarter valued at $82,000. Cornerstone Wealth Management LLC acquired a new position in shares of ProShares Nasdaq-100 High Income ETF in the 4th quarter valued at $200,000. Kestra Advisory Services LLC bought a new position in shares of ProShares Nasdaq-100 High Income ETF in the 4th quarter worth $233,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of ProShares Nasdaq-100 High Income ETF during the fourth quarter worth $262,000.

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.