Other top holdings in QQQ include MSFT (8.24% weighting), GOOG (5.48%), ORCL (5.00%), and INTC (4.30%).
Options flows have been relatively quiet in the tech space via QQQ or related ETFs such as XLK (SPDR Technology), but aside from the notable outflows that we have seen in QQQ itself, trading activity has been ramping up in leveraged/inverse funds that are tied to Technology laden indexes such as the NDX for instance.
Hedgers whom seem to be concerned about the erosion of gains accumulated thus far in 2012, as well as outright speculators may be involved in increased activity in funds including PSQ (ProShares Short QQQ), REW (ProShares UltraShort Technology), TECS (Direxion Daily Technology Bear 3X), SOXS (Direxion Daily Semiconductor Bear 3X), and SSG (ProShares UltraShort Semiconductors).
PowerShares QQQ
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Full disclosure: Tom Lydon’s clients own AAPL and QQQ.