Investors Make a Triple-Leveraged Bet Tech Pain Won’t Last
- ProShares’ TQQQ takes in almost $800 million so far this week
- Fund has lured substantial inflows despite price decline
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As hordes of day traders show their force in markets once again, a triple-leveraged exchange-traded fund that tracks the Nasdaq 100 is on pace for its best week of inflows on record.
The $11 billion ProShares UltraPro QQQ ETF (TQQQ) has attracted almost $800 million of fresh cash in the span, according to data compiled by Bloomberg. The fund has lured substantial inflows despite a price drop of more than 6% amid a selloff in large technology companies. It fell again on Thursday, joining broader equity-market losses.