As a market still beset by high volatility and conflicting macro factors continues to struggle, institutional investors appear to be trying to make quite a bold (and heavily leveraged) statement. Fourth quarter filings show a surge in buying activity in the ProShares UltraPro QQQ (NASDAQ:TQQQ), a fund designed to deliver three times the daily returns of the Nasdaq 100 Index. The move suggests that “smart money” may be betting in a sharp rebound in tech, even as uncertainty persists.
Indeed, major financial institutions have increased their holdings in TQQQ. Goldman Sachs, Citibank, and Cantor Fitzgerald have increased their positions massively with some increases going up to thousands of percentage points. Even though some firms such as …
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