Leveraged ETFs Betting Against US Stocks Draw in $1.4 Billion
- Short S&P 500 fund sees 12 days of inflows, Nasdaq racks four
- Investors ‘getting more bearish,’ Interactive Brokers says
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Traders are piling into exchange-traded funds that bet against US stocks as the risk of recession and disappointment from the upcoming earnings season bolsters bearish sentiment in the market.
Investors added a net $247.5 million to the ProShares UltraPro Short QQQ ETF (ticker SQQQ) in the latest session tracked by Bloomberg. This was the biggest one-day increase in over a month for the fund -- which is a bet against the tech-heavy Nasdaq 100 -- and the fourth straight day of inflows, which totaled roughly $518 million.