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

Richmond Brothers Inc. increased its stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 31.4% in the second quarter, Holdings Channel reports. The firm owned 7,373 shares of the exchange traded fund’s stock after buying an additional 1,760 shares during the quarter. ProShares UltraPro QQQ accounts for approximately 1.1% of Richmond Brothers Inc.’s holdings, making the stock its 11th biggest 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 institutional investors have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. acquired a new position in ProShares UltraPro QQQ in the first quarter valued at about $37,000. Westend Capital Management LLC acquired a new position in ProShares UltraPro QQQ in the first quarter valued at about $48,000. Hantz Financial Services Inc. acquired a new position in ProShares UltraPro QQQ in the second quarter valued at about $68,000. Massmutual Trust Co. FSB ADV acquired a new position in ProShares UltraPro QQQ in the first quarter valued at about $63,000. Finally, Fairfield Financial Advisors LTD acquired a new position in ProShares UltraPro QQQ in the second quarter valued at about $117,000.

ProShares UltraPro QQQ Price Performance

NASDAQ:TQQQ opened at $65.62 on Thursday. ProShares UltraPro QQQ has a 1 year low of $30.47 and a 1 year high of $85.20. The stock has a 50-day moving average price of $66.47 and a two-hundred day moving average price of $64.82.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were issued a $0.2828 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from ProShares UltraPro QQQ’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, June 26th.

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.