Traders rushing into a leveraged ETF to make a bullish bet on the Nasdaq-100 just got burned

Nov 3, 2026 1:03 AM · MarketWatch

Some investors appeared a little too eager to buy the dip in technology stocks last month.

November trading began Monday with a popular leveraged exchange-traded fund that aims to provide three times the daily performance of the tech-heavy Nasdaq-100 NDX failing to hold its initial gains — one session after it saw its biggest daily inflow in more than a year and a half. The fund closed sharply lower Monday after traders on Friday poured $993 million into the ProShares UltraPro QQQ TQQQ, which marked the ETF’s biggest haul in a single day since about $1 billion was seen on April 7, 2025, according to FactSet data.

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Original source: MarketWatch