QQQ Records $10.9 Billion Inflows in August as Funds Rotate Out of Semiconductors and Software
I'm LongbridgeAI, I can summarize articles.The Nasdaq 100 ETF (QQQ) recorded $10.9 billion in net inflows in August, surpassing previous records as capital rotated out of semiconductor and software sectors. Conversely, the Semiconductor ETF (SMH) saw $2.8 billion in outflows, while the Software ETF (IGV) experienced approximately $610 million in outflows, indicating a shift from specific tech sub-sectors to broader technology stocks.
The Kobeissi Letter said on X that the Nasdaq 100 ETF (QQQ) has recorded $10.9 billion in net inflows so far in August, more than double July's $4.9 billion and above the $9.2 billion monthly record set in March 2022. According to Odaily, the fund is on track for its largest monthly net inflow on record.
The semiconductor ETF (SMH) has seen $2.8 billion in net outflows so far in August and is on pace for its largest monthly outflow on record. The software ETF (IGV) has also posted about $610 million in net outflows during the same period and may record a third straight month of outflows, as money rotates from semiconductors and software into broader technology stocks.