Richmond Brothers Inc. Boosts Stake in ProShares Ultra QQQ $QLD

Richmond Brothers Inc. raised its position in ProShares Ultra QQQ (NYSEARCA:QLD) by 394.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,152 shares of the company’s stock after buying an additional 23,261 shares during the period. ProShares Ultra QQQ makes up about 1.3% of Richmond Brothers Inc.’s holdings, making the stock its 22nd biggest holding. Richmond Brothers Inc.’s holdings in ProShares Ultra QQQ were worth $2,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Inc. boosted its position in ProShares Ultra QQQ by 95.4% in the 4th quarter. Howard Capital Management Inc. now owns 12,277,706 shares of the company’s stock valued at $864,473,000 after buying an additional 5,993,035 shares during the last quarter. Global View Capital Management LLC boosted its position in ProShares Ultra QQQ by 116.2% in the 4th quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock valued at $126,916,000 after buying an additional 968,727 shares during the last quarter. Main Street Group LTD boosted its position in ProShares Ultra QQQ by 89.9% in the 4th quarter. Main Street Group LTD now owns 1,039,176 shares of the company’s stock valued at $73,168,000 after buying an additional 491,865 shares during the last quarter. Clearstead Trust LLC boosted its position in ProShares Ultra QQQ by 102.4% in the 4th quarter. Clearstead Trust LLC now owns 731,539 shares of the company’s stock valued at $51,508,000 after buying an additional 370,086 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its position in ProShares Ultra QQQ by 100.1% in the 4th quarter. Focus Financial Network Inc. now owns 599,334 shares of the company’s stock valued at $42,199,000 after buying an additional 299,761 shares during the last quarter.

ProShares Ultra QQQ Price Performance

NYSEARCA:QLD opened at $92.18 on Friday. The firm has a 50-day moving average of $83.86 and a two-hundred day moving average of $74.41. The stock has a market cap of $13.66 billion, a P/E ratio of 31.03 and a beta of 2.46. ProShares Ultra QQQ has a 1-year low of $53.16 and a 1-year high of $101.19.

ProShares Ultra QQQ Company Profile

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements. The Index is calculated under a modified capitalization-weighted methodology.