Richmond Brothers Inc. Buys 973 Shares of ProShares UltraPro QQQ $TQQQ

Richmond Brothers Inc. grew its stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,335 shares of the exchange traded fund’s stock after buying an additional 973 shares during the period. ProShares UltraPro QQQ accounts for approximately 0.6% of Richmond Brothers Inc.’s portfolio, 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in ProShares UltraPro QQQ during the 2nd quarter worth approximately $25,000. MRP Capital Investments LLC bought a new position in shares of ProShares UltraPro QQQ in the first quarter worth $29,000. Keystone Financial Group Inc. purchased a new stake in shares of ProShares UltraPro QQQ in the second quarter worth $48,000. Atlantic Union Bankshares Corp bought a new stake in ProShares UltraPro QQQ during the second quarter valued at $47,000. Finally, Bogart Wealth LLC bought a new stake in ProShares UltraPro QQQ during the second quarter valued at $58,000.

ProShares UltraPro QQQ Stock Down 3.0%

Shares of NASDAQ TQQQ opened at $108.18 on Thursday. The stock’s 50-day simple moving average is $104.93 and its two-hundred day simple moving average is $87.97. ProShares UltraPro QQQ has a twelve month low of $35.00 and a twelve month high of $121.37. The firm has a market capitalization of $28.37 billion, a P/E ratio of 38.25 and a beta of 3.46.

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

ProShares UltraPro QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 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.