ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Shares Shorted: Short Interest Down 43.1% in October

by · The Markets Daily

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ – Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 6,227 shares, a decline of 43.1% from the September 30th total of 10,945 shares. Based on an average daily trading volume, of 47,197 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are sold short.

ProShares Nasdaq-100 High Income ETF Stock Down 3.2%

Shares of IQQQ traded down $1.52 during mid-day trading on Friday, hitting $45.59. The stock had a trading volume of 118,162 shares, compared to its average volume of 58,227. ProShares Nasdaq-100 High Income ETF has a fifty-two week low of $40.43 and a fifty-two week high of $51.66. The company’s fifty day simple moving average is $48.13 and its two-hundred day simple moving average is $46.94. The company has a market cap of $378.85 million, a PE ratio of 34.31 and a beta of 1.21.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.2296 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.0%. This is a decrease from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.2386.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IQQQ. Royal Bank of Canada lifted its holdings in ProShares Nasdaq-100 High Income ETF by 4.7% during the first quarter. Royal Bank of Canada now owns 453,905 shares of the company’s stock worth $18,924,000 after acquiring an additional 20,268 shares in the last quarter. PFG Investments LLC lifted its position in shares of ProShares Nasdaq-100 High Income ETF by 12.6% in the first quarter. PFG Investments LLC now owns 71,773 shares of the company’s stock valued at $2,992,000 after buying an additional 8,052 shares during the last quarter. PMG Family Office LLC boosted its holdings in shares of ProShares Nasdaq-100 High Income ETF by 0.6% during the 3rd quarter. PMG Family Office LLC now owns 53,653 shares of the company’s stock worth $2,622,000 after buying an additional 325 shares during the period. Benchmark Financial LLC grew its position in shares of ProShares Nasdaq-100 High Income ETF by 8.4% in the third quarter. Benchmark Financial LLC now owns 35,540 shares of the company’s stock valued at $1,737,000 after purchasing an additional 2,767 shares during the last quarter. Finally, Clarus Wealth Advisors grew its holdings in ProShares Nasdaq-100 High Income ETF by 5.4% in the 2nd quarter. Clarus Wealth Advisors now owns 24,443 shares of the company’s stock valued at $1,190,000 after buying an additional 1,249 shares in the last quarter.

About ProShares Nasdaq-100 High Income ETF

(Get Free Report)

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.

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