ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Short Interest Up 216.1% in August

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 27,473 shares, an increase of 216.1% from the August 15th total of 8,692 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 43,036 shares, the days-to-cover ratio is currently 0.6 days.

ProShares Nasdaq-100 High Income ETF Trading Up 0.8%

Shares of IQQQ stock traded up $0.40 during midday trading on Friday, reaching $48.04. 24,740 shares of the stock were exchanged, compared to its average volume of 60,127. ProShares Nasdaq-100 High Income ETF has a 1 year low of $40.43 and a 1 year high of $51.66. The firm has a market cap of $402.09 million, a PE ratio of 34.31 and a beta of 1.22. The company’s 50 day moving average is $48.17 and its two-hundred day moving average is $47.13.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, September 1st were given a dividend of $0.2296 per share. The ex-dividend date was Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 5.7%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. grew its position in shares of ProShares Nasdaq-100 High Income ETF by 778.5% in the 2nd quarter. Raymond James Financial Inc. now owns 726,316 shares of the company’s stock worth $29,706,000 after buying an additional 643,640 shares during the period. Bank of America Corp DE lifted its position in ProShares Nasdaq-100 High Income ETF by 188.7% during the 3rd quarter. Bank of America Corp DE now owns 796,205 shares of the company’s stock valued at $35,073,000 after acquiring an additional 520,437 shares during the period. LPL Financial LLC lifted its position in ProShares Nasdaq-100 High Income ETF by 37.6% during the 4th quarter. LPL Financial LLC now owns 388,743 shares of the company’s stock valued at $17,291,000 after acquiring an additional 106,307 shares during the period. Royal Bank of Canada boosted its stake in ProShares Nasdaq-100 High Income ETF by 163.0% during the first 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 in the last quarter. Finally, Wick Capital Partners LLC boosted its stake in ProShares Nasdaq-100 High Income ETF by 430.1% during the fourth quarter. Wick Capital Partners LLC now owns 87,578 shares of the company’s stock worth $3,895,000 after acquiring an additional 71,056 shares in the last quarter.

About ProShares Nasdaq-100 High Income ETF

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.