Short Interest in World’s Biggest ETF Plunges to Decade Lows
- SPY shorts are languishing at around 2% of shares outstanding
- First-quarter euphoria is taking hold, says Chatwell at Mizuho
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Bets against the world’s largest exchange-traded fund have plunged back to pre-pandemic levels seen about a year ago, before the onset of the fastest stock bear market in history.
Fueled by vaccine hopes and reflationary signals, short interest in the $334 billion SPDR S&P 500 ETF Trust (ticker SPY) now sits at just 2% of shares outstanding, according to IHS Markit Ltd. data.