The Invesco QQQ (NasdaqGM: QQQ), which tracks the tech-heavy Nasdaq-100 Index, is showing some signs of resilience after faltering during the recent sell-off in momentum stocks.

Stocks such as Apple (NASDAQ: AAPL), Google parent Alphabet Inc. (NASDAQ: GOOG), Facebook Inc. (NASDAQ: FB) and Microsoft Corp. (NASDAQ: MSFT) are pivotal to QQQ’s performance. Those names and others were taken to task during the October market swoon, but QQQ gained nearly 5% last week.

“The $63 billion fund, better known as simply QQQ, took in $458 million on Tuesday after nearly $2 billion fled the ETF over the four previous sessions, putting it on track to lose the most cash since January,” reports Bloomberg.

QQQ features exposure to a wide array of technology companies, including technology hardware, storage, and peripherals; software; diversified telecommunication services; communications equipment; semiconductors and semiconductor equipment; internet software and services; IT services; electronic equipment, instruments and components; and wireless telecommunication services.

What’s Next for Tech?

“U.S.-listed ETFs tracking shares of technology companies have seen more than $3.7 billion of outflows in November, putting them well on their way to the worst month since the beginning of 2016. Still, some traders spotted a buying opportunity when the selling finally eased,” according to Bloomberg.

Even with the pressure on Apple, the largest component in a slew of cap-weighted technology ETFs, some technical analysts see opportunity in the sector. Microsoft recently surpassed Apple as the largest U.S. company by market value.

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