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Retail Army Is Back Driving Records in One Stock-Market Corner

  • JPMorgan data show day traders fueling inverse ETF activity
  • Funds that wager on declines and amplify returns in hot demand

The meme-stock era may be over, but day trading in one corner of the stock market is hitting pandemic records. 

Transaction volumes in a controversial breed of leveraged ETF hit an all-time high this week as retail and institutional investors alike surfed the intense U.S. equity turbulence. The number of shares changing hands in the $17 billion world of inverse exchange-traded funds hit seven-times the average of the past five years on Wednesday, according to data compiled by Bloomberg.