iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) Sees Significant Drop in Short Interest

iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 60,241 shares, a drop of 38.1% from the May 31st total of 97,279 shares. Based on an average daily trading volume, of 171,654 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.8% of the shares of the company are sold short.

iShares Nasdaq Top 30 Stocks ETF Stock Performance

Shares of NASDAQ QTOP traded down $0.76 during midday trading on Thursday, hitting $37.20. The company’s stock had a trading volume of 103,404 shares, compared to its average volume of 202,684. iShares Nasdaq Top 30 Stocks ETF has a 1-year low of $28.07 and a 1-year high of $39.41. The firm’s fifty day moving average price is $37.39 and its 200-day moving average price is $33.68. The firm has a market cap of $276.77 million, a P/E ratio of 33.35 and a beta of 1.37.

iShares Nasdaq Top 30 Stocks ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a $0.0337 dividend. The ex-dividend date was Monday, June 15th. This is an increase from iShares Nasdaq Top 30 Stocks ETF’s previous quarterly dividend of $0.03. This represents a $0.13 dividend on an annualized basis and a yield of 0.4%.

Hedge Funds Weigh In On iShares Nasdaq Top 30 Stocks ETF

Several institutional investors have recently made changes to their positions in QTOP. Diversify Advisory Services LLC raised its position in shares of iShares Nasdaq Top 30 Stocks ETF by 45.7% during the 4th quarter. Diversify Advisory Services LLC now owns 66,685 shares of the company’s stock worth $2,155,000 after purchasing an additional 20,929 shares during the period. Bank of America Corp DE boosted its position in iShares Nasdaq Top 30 Stocks ETF by 264.8% during the 3rd quarter. Bank of America Corp DE now owns 77,884 shares of the company’s stock valued at $2,421,000 after purchasing an additional 56,532 shares during the period. Cetera Investment Advisers boosted its position in iShares Nasdaq Top 30 Stocks ETF by 105.9% during the 4th quarter. Cetera Investment Advisers now owns 21,539 shares of the company’s stock valued at $688,000 after purchasing an additional 11,077 shares during the period. Raymond James Financial Inc. bought a new position in iShares Nasdaq Top 30 Stocks ETF during the 3rd quarter worth $591,000. Finally, Magnolia Capital Advisors LLC grew its stake in iShares Nasdaq Top 30 Stocks ETF by 22.7% during the 4th quarter. Magnolia Capital Advisors LLC now owns 11,738 shares of the company’s stock worth $375,000 after buying an additional 2,172 shares during the last quarter.

About iShares Nasdaq Top 30 Stocks ETF

The iShares Nasdaq Top 30 Stocks ETF (QTOP) is an exchange-traded fund that is based on the Nasdaq-100 Top 30 index. The fund aims to track an index composed of the 30 largest companies by market-cap from the Nasdaq-100 Index. The components are weighted by market-cap with capping limits QTOP was launched on Oct 24, 2024 and is issued by BlackRock.