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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 27,473 shares, an increase of 216.1% from the August 15th total of 8,692 shares. Based on an average daily trading volume, of 43,036 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company’s stock are short sold.

ProShares Nasdaq-100 High Income ETF Price Performance

NASDAQ IQQQ traded down $0.38 during trading hours on Monday, hitting $47.66. The company’s stock had a trading volume of 23,113 shares, compared to its average volume of 59,916. The company has a market cap of $428.89 million, a P/E ratio of 34.31 and a beta of 1.22. The company’s 50 day simple moving average is $48.17 and its two-hundred day simple moving average is $47.15. 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 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 of this dividend was Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 5.8%.

Institutional Trading of ProShares Nasdaq-100 High Income ETF

Hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC purchased a new stake in ProShares Nasdaq-100 High Income ETF in the 4th quarter worth approximately $200,000. Meridian Wealth Management LLC bought a new position in shares of ProShares Nasdaq-100 High Income ETF during the 4th quarter valued at about $262,000. Cary Street Partners Financial LLC grew its holdings in ProShares Nasdaq-100 High Income ETF by 5.4% during the 4th quarter. Cary Street Partners Financial LLC now owns 6,640 shares of the company’s stock valued at $295,000 after buying an additional 340 shares in the last quarter. CAP Partners LLC increased its position in ProShares Nasdaq-100 High Income ETF by 6.5% in the first quarter. CAP Partners LLC now owns 8,952 shares of the company’s stock worth $373,000 after purchasing an additional 550 shares during the last quarter. Finally, City Center Advisors LLC increased its holdings in shares of 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 worth $504,000 after buying an additional 2,167 shares during the last quarter.

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.