ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Sees Significant Decrease in Short Interest

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a significant drop in short interest in 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. Based on an average daily volume of 41,832 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

ProShares Nasdaq-100 High Income ETF Price Performance

NASDAQ:IQQQ opened at $48.38 on Monday. The stock’s 50 day moving average price is $48.45 and its two-hundred day moving average price is $46.86. The firm 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 12-month low of $40.43 and a 12-month high of $51.66.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

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

Hedge Funds Weigh In On ProShares Nasdaq-100 High Income ETF

Several institutional investors and hedge funds have recently modified their holdings of IQQQ. Clarus Wealth Advisors raised its position in shares of ProShares Nasdaq-100 High Income ETF by 5.4% in the second quarter. Clarus Wealth Advisors now owns 24,443 shares of the company’s stock valued at $1,190,000 after purchasing an additional 1,249 shares during the period. City Center Advisors LLC grew its stake in ProShares Nasdaq-100 High Income ETF by 28.0% in the 2nd quarter. City Center Advisors LLC now owns 9,919 shares of the company’s stock valued at $504,000 after buying an additional 2,167 shares during the last quarter. Royal Bank of Canada grew its stake in ProShares Nasdaq-100 High Income ETF by 4.7% in the 1st quarter. Royal Bank of Canada now owns 453,905 shares of the company’s stock valued at $18,924,000 after buying an additional 20,268 shares during the last quarter. Lido Advisors LLC bought a new position in ProShares Nasdaq-100 High Income ETF in the 1st quarter valued at about $819,000. Finally, CAP Partners LLC raised its holdings in ProShares Nasdaq-100 High Income ETF by 6.5% in the 1st quarter. CAP Partners LLC now owns 8,952 shares of the company’s stock valued at $373,000 after acquiring an additional 550 shares during the period.

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.