Traders rushing into a leveraged ETF to make a bullish bet on the Nasdaq-100 just got burned
AI-generated summary The Direxion Daily Semiconductor Bull 3X ETF is available after booking a nearly 48% drop in October as tech stocks struggled under renewed anxiety around the artificial-intelligence trade. Traders rushing into the ProShares UltraPro QQQ to make a bullish bet on the Nasdaq-100 got burned as the fund sank following a deep, 20.5% loss in October.