Investors who bet big on tech stocks reboun⛎d🎐ing from a tough July are seeing their money evaporate in the current meltdown. 

A Bloomberg analysis of certain leveraged tech exchange-traded funds (ETFs) showed that money poured into them as tech stocks wobbled last month. Those bets have proved painful amid a selloff following last 澳洲幸运5官方开奖结果体彩网:Friday’s wea𒈔ker-than-expected jobs re𝓰port, which fueled fears of a coming 澳洲幸运5官方开奖结果体彩网:recession.

Tide Turns for Major Tech-Focused ETFs

The Direxion Daily Semiconductor Bull 3x Shares (SOXL) brought in a record $2.8 billion last month, according to Bloomberg. The fund seeks daily returns, before fees and expenses, that are three times the performance of the New York Stock Exchange Semiconductor Index. Its shares at Monday's close had 🦋f🏅allen about 60% from their recent peak on July 10. 

The ProShares UltraPro QQQ (TQQQ) took in $830 million in July, the most of any month since 2022, and more than $400 million in the first few days of August, according to the Bloomberg report. This fund aims for a daily return, minus fees, equal to three times the daily performance of the 澳洲幸运5官方开奖结果体彩网:Nasdaq 100 Index. The ETF 🔥has shed about a third of its value since July 10.

GraniteShares 2x Long NVDA Daily ETF ()—which tracks superstar chip maker Nvidia’s (NVDA) stock movement and seeks returns before expenses that are two times Nvidia's daily percentage change—picked up $560 million in inflows last month after taking in an all-time high of $1.6 billion in June. Its shares endꦰed Monday nearly 50%🐓 off their July 10 price.