A quirk with one of the most popular tech ETFs has seen the product lag this year because it couldn't own enough Nvidia. On Friday, that looks set to change.
The declining short interest in SPDR® S&P 500 (NYSE:SPY) and Invesco QQQ Trust (NASDAQ:QQQ) exchange-traded funds (ETFs) to successive record lows has been supporting US equities and reducing volatility over the past year, thus serving as an implicit short volatility (vol) trade, JPMorgan strategists said in a Thursday note.
As summer heats up, so does the stock market. The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), has an intriguing historical seasonality pattern during presidential election years. Looking back to 1928, an analysis conducted by Bank of America shows that the S&P 500 often kicks off summer with a solid performance in early June, which sets a bullish tone that tends to carry through the summer months. “A late June lull could set up an early July rally,” says Stephen Suttmeier, CFA,