A Triple-Leveraged Tech ETF Loses $430 Million After Earnings
- ProShares UltraPro QQQ posted largest one-day outflow ever
- The $7.2 billion TQQQ extended a six-day rally on Wednesday
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After the relentless surge in technology shares, some investors are trimming their positions in a triple-leveraged exchange-traded fund amid doubts about how far the gains can go.
Traders withdrew more than $433 million from ProShares UltraPro QQQ, which seeks investment results that correspond to three times the daily performance of the Nasdaq-100 Index. The outflows reduced the fund’s assets by 5.6% to $7.2 billion, according to data compiled by Bloomberg.