Independent Advisor Alliance Invests $278,000 in ProShares S&P 500 High Income ETF (NYSEARCA:ISPY)

Independent Advisor Alliance acquired a new position in shares of ProShares S&P 500 High Income ETF (NYSEARCA:ISPY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,267 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds also recently modified their holdings of ISPY. AdvisorNet Financial Inc acquired a new position in shares of ProShares S&P 500 High Income ETF during the fourth quarter worth about $65,000. Foundations Investment Advisors LLC acquired a new position in ProShares S&P 500 High Income ETF during the fourth quarter valued at approximately $216,000. CAP Partners LLC acquired a new position in ProShares S&P 500 High Income ETF during the fourth quarter valued at approximately $231,000. Signature Wealth Management Partners LLC acquired a new position in ProShares S&P 500 High Income ETF during the fourth quarter valued at approximately $274,000. Finally, Integrated Wealth Concepts LLC acquired a new position in ProShares S&P 500 High Income ETF during the third quarter valued at approximately $335,000.

ProShares S&P 500 High Income ETF Stock Performance

Shares of NYSEARCA ISPY opened at $42.29 on Wednesday. The stock has a 50 day moving average price of $44.49 and a 200 day moving average price of $44.65. ProShares S&P 500 High Income ETF has a 52 week low of $39.85 and a 52 week high of $46.83. The stock has a market capitalization of $666.07 million, a PE ratio of 25.63 and a beta of 0.87.

ProShares S&P 500 High Income ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, March 7th. Investors of record on Monday, March 3rd were given a dividend of $0.1783 per share. The ex-dividend date was Monday, March 3rd.

ProShares S&P 500 High Income ETF 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.