Wall Street Bets Against Airlines Despite Summer Travel Boom
- Short interest for JETS aviation ETF reaches 27% of free float
- Delta sets tone for airline earnings with profit outlook miss
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Americans are flying in record numbers as summer travel season kicks into gear, but traders are betting that airlines won’t be able to capitalize on it.
Short interest in the $1.1 billion aviation industry exchange-traded fund US Global Jets (ticker JETS) accounts for over 27% of the ETF’s free float after touching 30% earlier this month, the highest in data going back to 2019, according to S3 Partners LLC.