NEOS Nasdaq 100 High Income ETF (NASDAQ:QQQI) Sees Significant Decrease in Short Interest

NEOS Nasdaq 100 High Income ETF (NASDAQ:QQQI) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 111,600 shares, a decline of 45.1% from the February 28th total of 203,200 shares. Based on an average daily volume of 477,100 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.7% of the shares of the stock are sold short.

NEOS Nasdaq 100 High Income ETF Price Performance

Shares of NEOS Nasdaq 100 High Income ETF stock traded down $0.94 during trading on Friday, reaching $47.74. 453,121 shares of the stock traded hands, compared to its average volume of 493,550. NEOS Nasdaq 100 High Income ETF has a 52-week low of $45.65 and a 52-week high of $54.47. The business has a fifty day simple moving average of $51.70 and a two-hundred day simple moving average of $51.97. The company has a market capitalization of $755.72 million, a price-to-earnings ratio of 31.08 and a beta of 1.09.

NEOS Nasdaq 100 High Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 26th will be paid a $0.5867 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 14.75%. The ex-dividend date of this dividend is Wednesday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc bought a new stake in NEOS Nasdaq 100 High Income ETF in the fourth quarter worth $30,000. Creative Financial Designs Inc. ADV lifted its position in NEOS Nasdaq 100 High Income ETF by 26.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,767 shares of the company’s stock valued at $250,000 after purchasing an additional 993 shares during the last quarter. Private Trust Co. NA purchased a new position in shares of NEOS Nasdaq 100 High Income ETF in the 4th quarter worth $105,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of NEOS Nasdaq 100 High Income ETF by 24.8% in the 4th quarter. Ameriprise Financial Inc. now owns 33,604 shares of the company’s stock worth $1,760,000 after buying an additional 6,683 shares during the last quarter.

About NEOS Nasdaq 100 High Income ETF

The NEOS Nasdaq 100 High Income ETF (QQQI) is an exchange-traded fund that mostly invests in large cap equity. The fund seeks high monthly income through NASDAQ-100 stocks and call options, pursuing potential equity growth in a tax-efficient manner. QQQI was launched on Jan 30, 2024 and is issued by Neos.