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

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

ProShares Nasdaq-100 High Income ETF Stock Up 1.0%

IQQQ traded up $0.50 during midday trading on Friday, hitting $49.99. The company had a trading volume of 99,224 shares, compared to its average volume of 66,514. ProShares Nasdaq-100 High Income ETF has a 52 week low of $38.80 and a 52 week high of $51.66. The company has a market capitalization of $410.92 million, a price-to-earnings ratio of 34.31 and a beta of 1.20. The stock’s 50 day moving average price is $47.52 and its 200 day moving average price is $45.39.

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ProShares Nasdaq-100 High Income ETF Cuts Dividend

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of IQQQ. Royal Bank of Canada increased its stake in ProShares Nasdaq-100 High Income ETF by 163.0% in the first quarter. Royal Bank of Canada now owns 140,046 shares of the company’s stock valued at $5,441,000 after purchasing an additional 86,794 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of ProShares Nasdaq-100 High Income ETF by 57.1% in the 1st quarter. Focus Partners Wealth now owns 11,000 shares of the company’s stock worth $427,000 after acquiring an additional 4,000 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of ProShares Nasdaq-100 High Income ETF by 441.3% in the 2nd quarter. NewEdge Advisors LLC now owns 655 shares of the company’s stock worth $27,000 after acquiring an additional 534 shares during the last quarter. Raymond James Financial Inc. raised its holdings 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 acquiring an additional 643,640 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of ProShares Nasdaq-100 High Income ETF by 4,089.1% in the 2nd quarter. Bank of America Corp DE now owns 275,768 shares of the company’s stock worth $11,279,000 after acquiring an additional 269,185 shares during the last quarter.

About ProShares Nasdaq-100 High Income ETF

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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.

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