TECL seeks daily investment results equal to 300% of the daily performance of the Technology Select Sector Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index.
Bullish investors may want to steer clear of tech stocks until the new year arrives.
Meeks “believes the prognosis is solid for tech stocks next year — suggesting the group could begin its ascent in late January when quarterly earnings season begins,” reports CNBC.
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