This ETF Has Turned $10,000 Into More Than $1.5 Million in Just 14 Years -- Should You Buy It Now?
Since the end of the financial crisis about 15 years ago, it's generally been an excellent time for the technology sector. A prolonged period of historically low interest rates helped fuel innovation, the stock market has avoided any major recessions, and most of the largest tech companies have performed especially well.
This has fueled excellent performance in the tech-heavy Nasdaq 100 index. One exchange-traded fund (ETF) that's done especially well is the ProShares UltraPro QQQ ETF (NASDAQ: TQQQ), which has turned a $10,000 investment into more than $1.5 million since its 2010 inception.
The ProShares UltraPro QQQ ETF is an exchange-traded fund that aims to produce three times the daily returns of the Nasdaq 100 index. It's a type of ETF known as a leveraged ETF, meaning it uses derivative securities and/or borrowed money to amplify returns to a desired level.
Source Fool.com
