Short Interest in ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Decreases By 56.7%

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 14,687 shares, a drop of 56.7% from the May 14th total of 33,893 shares. Based on an average daily volume of 61,797 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Essex Financial Services Inc. raised its position in ProShares Nasdaq-100 High Income ETF by 210.8% during the fourth quarter. Essex Financial Services Inc. now owns 23,755 shares of the company’s stock valued at $1,057,000 after acquiring an additional 16,113 shares in the last quarter. PMG Family Office LLC purchased a new position in ProShares Nasdaq-100 High Income ETF during the third quarter valued at approximately $1,963,000. SageGuard Financial Group LLC purchased a new position in ProShares Nasdaq-100 High Income ETF during the fourth quarter valued at approximately $1,837,000. HighTower Advisors LLC purchased a new position in ProShares Nasdaq-100 High Income ETF during the fourth quarter valued at approximately $2,974,000. Finally, Level Four Advisory Services LLC raised its position in ProShares Nasdaq-100 High Income ETF by 316.6% during the third quarter. Level Four Advisory Services LLC now owns 24,080 shares of the company’s stock valued at $1,061,000 after acquiring an additional 18,300 shares in the last quarter.

ProShares Nasdaq-100 High Income ETF Stock Up 1.0%

Shares of NASDAQ:IQQQ traded up $0.50 during trading on Friday, hitting $49.99. The stock had a trading volume of 99,224 shares, compared to its average volume of 66,514. The stock has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $45.38. The stock has a market capitalization of $410.92 million, a price-to-earnings ratio of 34.31 and a beta of 1.20. ProShares Nasdaq-100 High Income ETF has a 12-month low of $38.80 and a 12-month high of $51.66.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 5th. Investors of record on Monday, June 1st were given a dividend of $0.243 per share. The ex-dividend date was Monday, June 1st.

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.