ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Shares Shorted: Short Interest Down 43.1% in October

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 6,227 shares, a decrease of 43.1% from the September 30th total of 10,945 shares. Based on an average trading volume of 47,197 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

ProShares Nasdaq-100 High Income ETF Price Performance

Shares of IQQQ traded down $1.52 during mid-day trading on Friday, hitting $45.59. The company’s stock had a trading volume of 118,162 shares, compared to its average volume of 58,227. 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 firm has a 50-day moving average price of $48.13 and a 200 day moving average price of $46.94. The stock has a market capitalization of $378.85 million, a price-to-earnings ratio of 34.31 and a beta of 1.21.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.2296 per share. This is a negative change from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.2386. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Tuesday, September 1st.

Institutional Trading of ProShares Nasdaq-100 High Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of ProShares Nasdaq-100 High Income ETF by 4.7% in 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 during the period. PFG Investments LLC lifted its holdings in shares of ProShares Nasdaq-100 High Income ETF by 12.6% during the first quarter. PFG Investments LLC now owns 71,773 shares of the company’s stock worth $2,992,000 after purchasing an additional 8,052 shares during the period. PMG Family Office LLC increased 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 during the period. Benchmark Financial LLC raised its holdings in ProShares Nasdaq-100 High Income ETF by 8.4% during the 3rd quarter. Benchmark Financial LLC now owns 35,540 shares of the company’s stock worth $1,737,000 after purchasing an additional 2,767 shares during the last quarter. Finally, Essex Financial Services Inc. raised its stake in ProShares Nasdaq-100 High Income ETF by 6.3% during the first quarter. Essex Financial Services Inc. now owns 25,245 shares of the company’s stock worth $1,053,000 after buying an additional 1,490 shares during the last quarter.

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.