The ProShares UltraPro QQQ ETF (NASDAQ: TQQQ) has been grabbing the attention of investors in 2024 due to its impressive performance. Over the past six weeks, the ETF has seen a nearly 50% increase in value, adding to its strong long-term track record since it was established in 2010. For example, if you had invested $5,000 in this ETF at its inception, you would have nearly become a millionaire in just 14 years.
This ETF falls into the category of leveraged ETFs, which means it aims to deliver a specific multiple of the performance of a particular benchmark index. While the ProShares UltraPro QQQ ETF has a history of outperforming the market, it’s important for investors to understand the risks and benefits before buying shares. It’s always wise to research and consider your investment options carefully.
Source: Fool.com