New Leveraged ETF Bets on the Magnificent 7
Direxion’s Egilinsky talks about his firm’s new tech-focused leveraged ETFs.
Traders love leveraged ETFs. There’s over $100 billion invested across 268 U.S.-listed leveraged exchange-traded funds.
The Direxion Daily Concentrated Qs Bull 2x Shares (QQQU) adds leverage to a basket of the seven largest stocks in the Nasdaq, a group that is popularly known as the Magnificent 7.
In this episode of Talk ETFs, etf.com senior analyst Sumit Roy sits down with Direxion managing director Ed Egilinsky to discuss QQQU, as well as its counterpart, the Direxion Daily Concentrated Qs Bear 1x Shares (QQQD).
Leveraged ETFs tied to tech, in particular, are in high demand. The ProShares UltraPro QQQ (TQQQ) and the Direxion Daily Technology Bull 3X Shares ETF (TECL) have $22 billion and $3 billion in assets under management, respectively.
It’s no wonder then that Direxion recently launched a new ETF to capitalize on the strong interest in tech-focused leveraged ETFs.
What makes these ETFs different than the other leveraged tech ETFs that are out there? Who should be using them?
