ProShares S&P 500 High Income ETF (BATS:ISPY) Sees Large Drop in Short Interest

ProShares S&P 500 High Income ETF (BATS:ISPY) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 29,379 shares, a decrease of 55.7% from the April 15th total of 66,383 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 116,384 shares, the short-interest ratio is presently 0.3 days.

ProShares S&P 500 High Income ETF Stock Up 0.9%

ISPY opened at $48.43 on Friday. ProShares S&P 500 High Income ETF has a 52 week low of $39.60 and a 52 week high of $48.47. The business’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $45.56. The stock has a market cap of $984.10 million, a PE ratio of 25.81 and a beta of 0.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank bought a new stake in shares of ProShares S&P 500 High Income ETF in the first quarter worth about $90,000. NewEdge Advisors LLC boosted its stake in shares of ProShares S&P 500 High Income ETF by 26.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,828 shares of the company’s stock valued at $666,000 after purchasing an additional 3,327 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of ProShares S&P 500 High Income ETF by 57.1% during the 1st quarter. Focus Partners Wealth now owns 11,000 shares of the company’s stock valued at $463,000 after purchasing an additional 4,000 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of ProShares S&P 500 High Income ETF by 23.6% during the 2nd quarter. Raymond James Financial Inc. now owns 1,658,789 shares of the company’s stock valued at $70,382,000 after purchasing an additional 316,261 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in ProShares S&P 500 High Income ETF during the 3rd quarter valued at approximately $528,000.

ProShares S&P 500 High Income ETF Company Profile

The ProShares S&P 500 High Income ETF (ISPY) is an exchange-traded fund that is based on the S&P 500 Daily Covered Call index. The fund tracks an index pursuing a daily covered call writing strategy on the stocks of the S&P 500 Index. The fund seeks generate a high level of income combined with the performance returns of the S&P 500 Index over the long term. ISPY was launched on Dec 18, 2023 and is issued by ProShares.