Short Interest in ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) Declines By 87.1%

ProShares Nasdaq-100 High Income ETF (NASDAQ:IQQQ) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 71,500 shares, a decline of 87.1% from the October 31st total of 553,900 shares. Based on an average trading volume of 55,500 shares, the days-to-cover ratio is currently 1.3 days.

ProShares Nasdaq-100 High Income ETF Price Performance

Shares of NASDAQ:IQQQ traded up $0.40 during mid-day trading on Friday, reaching $43.23. 10,675 shares of the company traded hands, compared to its average volume of 30,922. The company’s 50 day moving average price is $42.14 and its 200-day moving average price is $41.65. The firm has a market cap of $71.33 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 Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued a $0.1046 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.26 dividend on an annualized basis and a yield of 2.90%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC lifted its holdings in ProShares Nasdaq-100 High Income ETF by 184.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 46,123 shares of the company’s stock worth $1,979,000 after purchasing an additional 29,919 shares in the last quarter. PFG Investments LLC lifted its holdings in ProShares Nasdaq-100 High Income ETF by 39.1% in the 3rd quarter. PFG Investments LLC now owns 29,221 shares of the company’s stock worth $1,222,000 after purchasing an additional 8,216 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in ProShares Nasdaq-100 High Income ETF by 64.4% in the 3rd quarter. SteelPeak Wealth LLC now owns 22,685 shares of the company’s stock worth $949,000 after purchasing an additional 8,885 shares in the last quarter. Jane Street Group LLC purchased a new position in ProShares Nasdaq-100 High Income ETF in the 3rd quarter worth approximately $810,000. Finally, City Center Advisors LLC purchased a new position in ProShares Nasdaq-100 High Income ETF in the 3rd quarter worth approximately $252,000.

About ProShares Nasdaq-100 High Income ETF

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.