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Triple-Leveraged Tech ETF Suffers Exodus After 200% Surge

  • ProShares UltraPro QQQ set for worst weekly outflows in decade
  • The $6.8 billion fund has lost almost $500 million in the span
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A triple-leveraged ETF that tracks some of the world’s biggest technology companies is poised for its worst week of outflows in a decade after soaring more than 200% from its March low.

The $6.8 billion ProShares UltraPro QQQ, which seeks investment results that correspond to three times the daily performance of the Nasdaq-100 Index, has already lost almost $500 million in the span, according to data compiled by Bloomberg. That puts the exchange-traded fund on pace for its largest weekly withdrawals since TQQQ started trading in February 2010.