Short Interest in ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Grows By 48.0%

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 102,100 shares, a growth of 48.0% from the May 15th total of 69,000 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 58,300 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On ProShares Nasdaq-100 High Income ETF

Several hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $51,000. Integrated Wealth Concepts LLC bought a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $406,000. Eldridge Investment Advisors Inc. bought a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $2,052,000. Sanctuary Advisors LLC increased its position in ProShares Nasdaq-100 High Income ETF by 27.4% in the fourth quarter. Sanctuary Advisors LLC now owns 58,763 shares of the company’s stock worth $2,549,000 after purchasing an additional 12,640 shares during the last quarter. Finally, Aptus Capital Advisors LLC bought a new stake in ProShares Nasdaq-100 High Income ETF in the fourth quarter worth $79,000.

ProShares Nasdaq-100 High Income ETF Price Performance

Shares of NASDAQ:IQQQ opened at $39.05 on Wednesday. ProShares Nasdaq-100 High Income ETF has a 1-year low of $33.00 and a 1-year high of $45.21. The company has a market capitalization of $128.47 million, a P/E ratio of 31.25 and a beta of 1.21. The firm’s 50 day simple moving average is $37.56 and its two-hundred day simple moving average is $40.45.

ProShares Nasdaq-100 High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 6th. Stockholders of record on Monday, June 2nd were issued a $0.4233 dividend. This represents a $5.08 annualized dividend and a dividend yield of 13.01%. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.10.

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.