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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 71,500 shares, a decrease of 87.1% from the October 31st total of 553,900 shares. Based on an average trading volume of 55,500 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its stake in shares of ProShares Nasdaq-100 High Income ETF by 184.6% in the third quarter. Sanctuary Advisors LLC now owns 46,123 shares of the company’s stock worth $1,979,000 after acquiring an additional 29,919 shares during the last quarter. Jane Street Group LLC bought a new position in ProShares Nasdaq-100 High Income ETF in the 3rd quarter worth approximately $810,000. Maia Wealth LLC acquired a new position in ProShares Nasdaq-100 High Income ETF during the 3rd quarter worth $234,000. SteelPeak Wealth LLC boosted its position in ProShares Nasdaq-100 High Income ETF by 64.4% in the 3rd quarter. SteelPeak Wealth LLC now owns 22,685 shares of the company’s stock valued at $949,000 after buying an additional 8,885 shares during the last quarter. Finally, PFG Investments LLC boosted its position in ProShares Nasdaq-100 High Income ETF by 39.1% in the 3rd quarter. PFG Investments LLC now owns 29,221 shares of the company’s stock valued at $1,222,000 after buying an additional 8,216 shares during the last quarter.

ProShares Nasdaq-100 High Income ETF Stock Up 0.8 %

IQQQ stock traded up $0.33 during midday trading on Friday, reaching $43.16. 8,476 shares of the company’s stock traded hands, compared to its average volume of 30,909. The company has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $41.65. ProShares Nasdaq-100 High Income ETF has a 1-year low of $37.27 and a 1-year high of $44.42. The company has a market cap of $71.21 million, a price-to-earnings ratio of 30.87 and a beta of 1.21.

ProShares Nasdaq-100 High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a $0.1046 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.91%.

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.