ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Stock Short Interest Falls 71.9%

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 7,708 shares, a decrease of 71.9% from the August 31st total of 27,473 shares. Based on an average daily trading volume, of 42,416 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IQQQ. Envestnet Asset Management Inc. raised its position in ProShares Nasdaq-100 High Income ETF by 4.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,083 shares of the company’s stock valued at $258,000 after purchasing an additional 234 shares in the last quarter. Cary Street Partners Financial LLC grew its position in shares of ProShares Nasdaq-100 High Income ETF by 5.4% during the fourth quarter. Cary Street Partners Financial LLC now owns 6,640 shares of the company’s stock worth $295,000 after buying an additional 340 shares in the last quarter. CAP Partners LLC grew its position in shares of ProShares Nasdaq-100 High Income ETF by 6.5% during the first quarter. CAP Partners LLC now owns 8,952 shares of the company’s stock worth $373,000 after buying an additional 550 shares in the last quarter. Clarus Wealth Advisors increased its stake in shares of ProShares Nasdaq-100 High Income ETF by 5.4% during the second quarter. Clarus Wealth Advisors now owns 24,443 shares of the company’s stock worth $1,190,000 after buying an additional 1,249 shares during the period. Finally, Wick Capital Partners LLC increased its stake in shares of ProShares Nasdaq-100 High Income ETF by 7.8% during the fourth quarter. Wick Capital Partners LLC now owns 17,814 shares of the company’s stock worth $792,000 after buying an additional 1,292 shares during the period.

ProShares Nasdaq-100 High Income ETF Stock Down 0.8%

Shares of IQQQ traded down $0.41 during trading on Monday, reaching $48.72. 16,567 shares of the company traded hands, compared to its average volume of 59,611. The stock has a 50-day simple moving average of $48.08 and a 200-day simple moving average of $47.47. The stock has a market cap of $408.72 million, a PE ratio of 34.31 and a beta of 1.22. ProShares Nasdaq-100 High Income ETF has a twelve month low of $40.43 and a twelve month high of $51.66.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, September 1st were issued a $0.2296 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.76 annualized dividend and a dividend yield of 5.7%. This is a drop from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.2386.

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.