Short Interest in ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Expands By 122.2%

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 81,804 shares, a growth of 122.2% from the March 15th total of 36,815 shares. Based on an average daily trading volume, of 57,784 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.0% of the company’s shares are short sold.

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

A number of hedge funds have recently modified their holdings of IQQQ. Raymond James Financial Inc. raised its position in shares of ProShares Nasdaq-100 High Income ETF by 778.5% during the second quarter. Raymond James Financial Inc. now owns 726,316 shares of the company’s stock worth $29,706,000 after purchasing an additional 643,640 shares during the period. Bank of America Corp DE raised its position in shares of ProShares Nasdaq-100 High Income ETF by 188.7% during the third quarter. Bank of America Corp DE now owns 796,205 shares of the company’s stock worth $35,073,000 after purchasing an additional 520,437 shares during the period. LPL Financial LLC raised its position in shares of ProShares Nasdaq-100 High Income ETF by 37.6% during the fourth quarter. LPL Financial LLC now owns 388,743 shares of the company’s stock worth $17,291,000 after purchasing an additional 106,307 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of ProShares Nasdaq-100 High Income ETF during the fourth quarter worth about $4,317,000. Finally, Royal Bank of Canada raised its position in shares of 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 purchasing an additional 86,794 shares during the period.

ProShares Nasdaq-100 High Income ETF Stock Performance

NASDAQ:IQQQ traded up $0.80 during mid-day trading on Tuesday, hitting $44.06. The company had a trading volume of 3,949 shares, compared to its average volume of 69,961. ProShares Nasdaq-100 High Income ETF has a fifty-two week low of $33.98 and a fifty-two week high of $46.72. The business’s fifty day moving average is $43.30 and its two-hundred day moving average is $44.25. The firm has a market cap of $361.29 million, a P/E ratio of 34.31 and a beta of 1.11.

ProShares Nasdaq-100 High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, April 1st were paid a $0.2519 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This is a positive change from ProShares Nasdaq-100 High Income ETF’s previous monthly dividend of $0.20. This represents a c) annualized dividend and a yield of 6.9%.

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.