ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Short Interest Down 67.0% in October

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 13,700 shares, a decline of 67.0% from the September 30th total of 41,500 shares. Based on an average daily trading volume, of 41,100 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IQQQ. City Center Advisors LLC acquired a new stake in shares of ProShares Nasdaq-100 High Income ETF during the third quarter worth $252,000. SteelPeak Wealth LLC acquired a new stake in ProShares Nasdaq-100 High Income ETF during the 2nd quarter worth about $589,000. Sanctuary Advisors LLC bought a new position in shares of ProShares Nasdaq-100 High Income ETF in the 2nd quarter worth about $642,000. Finally, PFG Investments LLC bought a new stake in shares of ProShares Nasdaq-100 High Income ETF during the 2nd quarter valued at about $896,000.

ProShares Nasdaq-100 High Income ETF Stock Performance

Shares of IQQQ traded up $0.27 during mid-day trading on Friday, reaching $42.22. 17,784 shares of the company were exchanged, compared to its average volume of 22,989. The business has a 50 day simple moving average of $41.18 and a two-hundred day simple moving average of $41.12. The stock has a market capitalization of $59.11 million, a PE ratio of 30.87 and a beta of 1.21. ProShares Nasdaq-100 High Income ETF has a 52 week low of $37.27 and a 52 week high of $44.42.

ProShares Nasdaq-100 High Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.324 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.89 annualized dividend and a yield of 9.21%.

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.