The QQQ Ripped To An All-Time High This Afternoon. Here’s Why.

The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) raced higher Tuesday to an intraday all-time high of $341.08 before finishing higher by 1.17% at $340.60.

The major indices were trading higher as the yield on the 10-year Treasury fell to 1.625% Tuesday afternoon. Yields on the 10-year were otherwise hovering around 1.7% and higher in the month of March, weighing on names in growth and tech.

The SPDR S&P 500 ETF Trust (NASDAQ: SPY) touched an intraday all-time high of $413.52 before closing higher by 0.3% at $412.86. The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) finished lower by 0.23% at $336.79.

Here are the day’s winners and losers from the Nasdaq, according to data from Benzinga Pro.

The leaders for the Nasdaq were some of the top names in growth and tech: Tesla Inc (NASDAQ: TSLA), Paypal Holdings Inc (NASDAQ: PYPL) and Apple Inc (NASDAQ: AAPL).

Tesla shares were trading higher on continued strength following Monday’s Canaccord Genuity upgrade.

Meanwhile, Micron Technology, Inc. (NASDAQ: MU), Microchip Technology Inc. (NASDAQ: MCHP) and Intel Corporation (NASDAQ: INTC) were among the top laggards in the QQQ.

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