However, much of that $25 billion surge came from investment in a single fund – the NASDAQ 100 Index Share fund (ticker QQQ), according to a new report by mutual fund research firm Strategic Insight.
That fund drew $18 billion in new investor money during the quarter. However, the fund lost nearly a third of its value during the period, according to Dow Jones.
The fund was developed by the NASDAQ and tracks the largest 100 non-financial stocks in the NASDAQ Composite Index. It was launched in March 1999.
Exchange traded funds allow investors to buy and sell their shares throughout the day like equities, rather than once a day as with mutual funds.
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