Short Oil ETF Had Biggest Inflow Ever Before Price Crash
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A small exchange-traded fund that makes leveraged bets against oil prices saw its biggest inflow on record the day before prices tanked.
ProShares UltraShort Bloomberg Crude Oil fund pulled in almost $84 million on Tuesday. A day later West Texas Intermediate futures sank $15, a drop only eclipsed in dollar terms by the plunge into negative territory in April 2020.