Why Nasdaq-100 Leveraged ETF TQQQ Hit A New 52-Week High Today
Portfolio Pulse from Henry Khederian
ProShares UltraPro QQQ (TQQQ) shares hit a new 52-week high, trading higher by 3.82% to $42.02. This follows the release of June CPI data showing softer-than-expected inflation, reinforcing investor expectations of a single rate hike by the Federal Reserve. TQQQ seeks daily investment results that correspond to three times the daily performance of the Nasdaq-100 (QQQ).
July 12, 2023 | 3:03 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
TQQQ, which corresponds to three times the daily performance of the Nasdaq-100 (QQQ), hit a new 52-week high. This suggests a positive outlook for QQQ as well.
The rise in TQQQ shares, which correspond to three times the daily performance of QQQ, suggests a positive outlook for QQQ as well. The softer-than-expected inflation data may also boost QQQ shares.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TQQQ shares hit a new 52-week high, trading higher by 3.82% to $42.02. This is likely due to softer-than-expected inflation data, which may lead to a single rate hike by the Federal Reserve.
The softer-than-expected inflation data has likely boosted investor confidence, leading to a rise in TQQQ shares. If the Federal Reserve implements a single rate hike, this could further boost TQQQ shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100