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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 14,444 shares, an increase of 80.6% from the June 30th total of 7,996 shares. Based on an average daily trading volume, of 57,028 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

ProShares Nasdaq-100 High Income ETF Stock Performance

NASDAQ:IQQQ traded up $1.55 during mid-day trading on Thursday, hitting $46.84. 43,349 shares of the company’s stock traded hands, compared to its average volume of 64,021. The company has a fifty day moving average of $49.28 and a 200 day moving average of $46.33. ProShares Nasdaq-100 High Income ETF has a twelve month low of $40.43 and a twelve month high of $51.66. The company has a market capitalization of $392.05 million, a P/E ratio of 34.31 and a beta of 1.19.

ProShares Nasdaq-100 High Income ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.4592 per share. The ex-dividend date was Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%.

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

Several hedge funds have recently modified their holdings of IQQQ. NewEdge Advisors LLC raised its position in shares of ProShares Nasdaq-100 High Income ETF by 441.3% in the 2nd quarter. NewEdge Advisors LLC now owns 655 shares of the company’s stock valued at $27,000 after purchasing an additional 534 shares during the last quarter. Aptus Capital Advisors LLC acquired a new stake in ProShares Nasdaq-100 High Income ETF in the 3rd quarter worth approximately $82,000. Cornerstone Wealth Management LLC purchased a new stake in ProShares Nasdaq-100 High Income ETF during the 4th quarter worth approximately $200,000. Kestra Advisory Services LLC purchased a new stake in ProShares Nasdaq-100 High Income ETF during the 4th quarter worth approximately $233,000. Finally, Private Trust Co. NA increased its stake in ProShares Nasdaq-100 High Income ETF by 231.6% during the 4th quarter. Private Trust Co. NA now owns 5,727 shares of the company’s stock valued at $255,000 after purchasing an additional 4,000 shares in 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.