Though U.S. technology shares saw a downturn over the summer, investors sank $1.48 billion into the PowerShares QQQ Trust Series 1 on Tuesday.

That’s the fourth-largest inflow into the industry’s benchmark ETF in the past five years, and the second-biggest commitment among U.S.-listed ETFs in yesterday’s trading session.
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After yanking $719.9 million from a technology fund in May, investors poured $1.78 billion in one day to another fund in the sector.
June 7 -
The exploding popularity of quants has created a gold rush for fund developers.
June 1 -
A tweak in accounting guidelines the firm helped to modify is expected to make the funds cheaper and easier to own.
May 30
Valuation fears and fragile market sentiment had spurred a $619 million withdrawal from the $50 billion ETF on Monday, but Tuesday saw a rebound in global risk appetite as U.S. tensions with North Korea eased. The PowerShares QQQ Trust ETF, which has returned a whopping 22.5% so far this year, has closed above its 50-day moving average for the past three sessions.
To add insult to injury, these losers charge high fees – 12 of the 20 have expense ratios over 1%.
Other technical indicators are less decisive. The ETF’s relative-strength index, a measure of how fast prices have moved, shows the fund is neither overbought nor oversold, while the moving average convergence-divergence indicator, another gauge of momentum, is below its red-signal line, suggesting a downtrend.