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

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 7,996 shares, a drop of 61.0% from the June 15th total of 20,480 shares. Based on an average daily volume of 62,398 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

ProShares Nasdaq-100 High Income ETF Price Performance

Shares of ProShares Nasdaq-100 High Income ETF stock opened at $49.63 on Monday. The firm has a market cap of $410.94 million, a price-to-earnings ratio of 34.31 and a beta of 1.19. The stock’s 50-day moving average is $49.58 and its 200-day moving average is $46.08. ProShares Nasdaq-100 High Income ETF has a one year low of $40.43 and a one year high of $51.66.

ProShares Nasdaq-100 High Income ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, July 1st were given a $0.4592 dividend. This represents a c) dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Investors Weigh In On ProShares Nasdaq-100 High Income ETF

Several institutional investors have recently bought and sold shares of IQQQ. Royal Bank of Canada boosted its position in ProShares Nasdaq-100 High Income ETF by 163.0% during the 1st quarter. Royal Bank of Canada now owns 140,046 shares of the company’s stock worth $5,441,000 after acquiring an additional 86,794 shares during the last quarter. Focus Partners Wealth grew its stake in shares of ProShares Nasdaq-100 High Income ETF by 57.1% during the 1st quarter. Focus Partners Wealth now owns 11,000 shares of the company’s stock worth $427,000 after acquiring an additional 4,000 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of ProShares Nasdaq-100 High Income ETF by 441.3% in the second 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. Raymond James Financial Inc. raised its holdings in shares of ProShares Nasdaq-100 High Income ETF by 778.5% in the second quarter. Raymond James Financial Inc. now owns 726,316 shares of the company’s stock valued at $29,706,000 after purchasing an additional 643,640 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of ProShares Nasdaq-100 High Income ETF by 4,089.1% in the second quarter. Bank of America Corp DE now owns 275,768 shares of the company’s stock valued at $11,279,000 after purchasing an additional 269,185 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.