Richmond Brothers Inc. Has $544,000 Stake in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Richmond Brothers Inc. raised its position in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 31.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,373 shares of the exchange traded fund’s stock after buying an additional 1,760 shares during the period. ProShares UltraPro QQQ comprises approximately 1.1% of Richmond Brothers Inc.’s holdings, making the stock its 11th largest holding. Richmond Brothers Inc.’s holdings in ProShares UltraPro QQQ were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC boosted its position in ProShares UltraPro QQQ by 444.5% in the 1st quarter. Jane Street Group LLC now owns 10,280,259 shares of the exchange traded fund’s stock valued at $632,853,000 after buying an additional 8,392,312 shares during the last quarter. Flow Traders U.S. LLC boosted its position in ProShares UltraPro QQQ by 433.9% in the 1st quarter. Flow Traders U.S. LLC now owns 1,532,199 shares of the exchange traded fund’s stock valued at $94,322,000 after buying an additional 1,245,229 shares during the last quarter. Howard Capital Management Inc. boosted its position in ProShares UltraPro QQQ by 7.1% in the 2nd quarter. Howard Capital Management Inc. now owns 378,154 shares of the exchange traded fund’s stock valued at $27,929,000 after buying an additional 25,087 shares during the last quarter. Avidian Wealth Solutions LLC boosted its position in ProShares UltraPro QQQ by 10.7% in the 1st quarter. Avidian Wealth Solutions LLC now owns 177,959 shares of the exchange traded fund’s stock valued at $10,955,000 after buying an additional 17,245 shares during the last quarter. Finally, PPSC Investment Service Corp bought a new position in ProShares UltraPro QQQ in the 2nd quarter valued at $12,662,000.

ProShares UltraPro QQQ Stock Performance

NASDAQ:TQQQ opened at $65.62 on Thursday. ProShares UltraPro QQQ has a 12-month low of $30.47 and a 12-month high of $85.20. The stock’s fifty day simple moving average is $66.47 and its 200-day simple moving average is $64.82.

ProShares UltraPro QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th were paid a dividend of $0.2828 per share. The ex-dividend date was Wednesday, June 26th. This is a boost from ProShares UltraPro QQQ’s previous quarterly dividend of $0.22. This represents a $1.13 dividend on an annualized basis and a dividend yield of 1.72%.

ProShares UltraPro QQQ 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.