Richmond Brothers Inc. Grows Stock Holdings in ProShares UltraPro QQQ $TQQQ

Richmond Brothers Inc. grew its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,335 shares of the exchange traded fund’s stock after purchasing an additional 973 shares during the period. ProShares UltraPro QQQ comprises about 0.6% of Richmond Brothers Inc.’s holdings, making the stock its 23rd largest holding. Richmond Brothers Inc.’s holdings in ProShares UltraPro QQQ were worth $858,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Howard Capital Management Inc. lifted its position in ProShares UltraPro QQQ by 1,071.0% in the 2nd quarter. Howard Capital Management Inc. now owns 4,855,196 shares of the exchange traded fund’s stock worth $404,067,000 after buying an additional 4,440,578 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter worth approximately $395,951,000. Oriental Harbor Investment Fund boosted its stake in shares of ProShares UltraPro QQQ by 47.3% in the 1st quarter. Oriental Harbor Investment Fund now owns 1,515,410 shares of the exchange traded fund’s stock valued at $86,488,000 after purchasing an additional 486,506 shares in the last quarter. IMC Chicago LLC grew its holdings in shares of ProShares UltraPro QQQ by 9,296.8% during the 2nd quarter. IMC Chicago LLC now owns 1,168,112 shares of the exchange traded fund’s stock valued at $96,953,000 after purchasing an additional 1,155,681 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of ProShares UltraPro QQQ during the 1st quarter valued at $53,458,000.

ProShares UltraPro QQQ Stock Down 3.0%

NASDAQ TQQQ opened at $108.18 on Thursday. The company has a 50-day simple moving average of $104.93 and a two-hundred day simple moving average of $87.97. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $121.37. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46.

Shares of ProShares UltraPro QQQ are scheduled to split on the morning of Thursday, November 20th. The 2-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Wednesday, November 19th.

ProShares UltraPro QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were paid a $0.0978 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 24th.

ProShares UltraPro QQQ Company Profile

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments.