ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Sees Significant Decrease in Short Interest
by Kim Johansen · The Markets DailyProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ – Get Free Report) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 36,815 shares, a decline of 30.4% from the February 26th total of 52,904 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 87,378 shares, the short-interest ratio is currently 0.4 days.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of IQQQ. Cary Street Partners Financial LLC raised its stake in ProShares Nasdaq-100 High Income ETF by 5.4% during the 4th quarter. Cary Street Partners Financial LLC now owns 6,640 shares of the company’s stock worth $295,000 after acquiring an additional 340 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of ProShares Nasdaq-100 High Income ETF by 4.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,856 shares of the company’s stock worth $394,000 after purchasing an additional 398 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of ProShares Nasdaq-100 High Income ETF by 441.3% during the second quarter. NewEdge Advisors LLC now owns 655 shares of the company’s stock worth $27,000 after purchasing an additional 534 shares in the last quarter. Creative Planning increased its position in shares of ProShares Nasdaq-100 High Income ETF by 5.5% during the third quarter. Creative Planning now owns 13,408 shares of the company’s stock worth $591,000 after purchasing an additional 695 shares in the last quarter. Finally, &PARTNERS lifted its holdings in shares of ProShares Nasdaq-100 High Income ETF by 7.1% in the 4th quarter. &PARTNERS now owns 18,366 shares of the company’s stock valued at $817,000 after purchasing an additional 1,214 shares during the last quarter.
ProShares Nasdaq-100 High Income ETF Stock Performance
NASDAQ IQQQ traded down $0.76 during trading on Friday, reaching $40.92. 67,736 shares of the company’s stock were exchanged, compared to its average volume of 69,712. The company has a 50 day moving average price of $43.91 and a two-hundred day moving average price of $44.33. The stock has a market cap of $326.13 million, a P/E ratio of 34.31 and a beta of 1.09. ProShares Nasdaq-100 High Income ETF has a 1 year low of $33.00 and a 1 year high of $46.72.
ProShares Nasdaq-100 High Income ETF Cuts Dividend
The business also recently declared a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were paid a $0.2033 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date was Monday, March 2nd.
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.