Short interest for iShares Core S&P Small-Cap ETF gives investors a sense of the degree to which investors are betting on the decline of iShares Core S&P Small-Cap ETF's stock. Short interest data is updated every two weeks.

iShares Core S&P Small-Cap ETF (ARCA:IJR), Short Interest Report

iShares Core S&P Small-Cap ETF

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iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

On CNBC’s &#34;Halftime Report Final Trades,&#34; Cerity Partners&#39; Jim Lebenthal picked  Berkshire Hathaway Inc. (NYSE: BRK-B) (NYSE: 

Berkshire Hathaway And More On CNBC&#39;s &#39;Final Trades&#39;

Etf,Exchange,Traded,Fund,Stock,Market,Trading,Investment,Financial,Concept.

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Analyst Ratings

ETFs

AVUV

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DFAS

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VTWO

Small-cap ETFs see record-breaking inflows, driven by retail investors. Bank of America predicts bullish outlook for 2024.

Small-Cap ETFs Enjoy Record Inflows Due To Optimistic Retail Investors: Is This The Decade Of 10% Annual Returns?

NFLX

QCOM

On CNBC’s &#34;Halftime Report Final Trades,&#34;  Shannon Saccocia of Boston Private named  iShares Core S&amp;P Small-Cap ETF (NYSE: IJR) 

Netflix, Qualcomm, Waste Connections And More: CNBC&#39;s &#39;Final Trades&#39;

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/03/28/final-trades-berkshire-hathaway-ieo-and-ijr.html">Halftime Report Final Trades</a>,&quot; Cerity Partners&#39;&nbsp;Jim Lebenthal picked Berkshire Hathaway Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>). When it comes to the Warren Buffett-led firm, you &quot;just push the easy button, you don&#39;t have to worry about corrections, <a href="https://www.benzinga.com/news/23/11/35729489/amd-to-surpass-2b-gpu-revenue-target-in-2024-analyst"> challenges or anything,&quot; </a>Lebenthal said<a href="https://www.benzinga.com/news/23/11/35729489/amd-to-surpass-2b-gpu-revenue-target-in-2024-analyst">. </a>
On Feb. 28, UBS analyst Brian Meredith maintained Berkshire Hathaway with a Buy and raised the price target from $435 to $477.
Shannon Saccocia of NB Private Wealth picked iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) saying &quot;small-caps, but profitable ones that are able to grow their earnings against this backdrop.&quot;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Joshua Brown of Ritholtz Wealth Management named iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ieo#NYSE">IEO</a>) as his final trade.
Crude oil inventories in the U.S. increased by 3.165 million barrels in the week ended March 22, compared to market estimates of a 1.275 million decline, the Energy Information Administration said. The total number of active U.S. oil rigs fell by 3 rigs this week, Baker Hughes Inc reported. WTI crude oil for May delivery gained $1.82 to settle at $83.17 per barrel on Thursday.
<h3>Price Action:</h3>
<ul>
<li>Berkshire Hathaway shares gained 0.9% to settle at $420.52 on Thursday.</li>
<li>iShares Core S&amp;P Small-Cap ETF gained 0.5% on Thursday.</li>
<li>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF rose 1.3% during Thursday&rsquo;s session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37927495/jim-cramer-says-dont-sell-this-beauty-brand-believes-kkr-and-blackstone-can-make-more-mo"> Jim Cramer Says Don&#39;t Sell This Beauty Brand, Believes KKR And Blackstone &#39;Can Make More Money&#39; </a>
Image: Shutterstock

BRK-A

BRK-B

Berkshire Hathaway And More On CNBC's 'Final Trades'

Small-cap exchange-traded funds (ETFs) have witnessed their largest weekly inflows since Bank of America began tracking <a href="https://www.benzinga.com/topic/small-caps">the data in 2017.</a> 
According to a note shared Wednesday, this surge is predominantly fueled by retail investors, marking a significant shift in market dynamics. 
Over the past 23 weeks, 22 have seen positive inflows, culminating in a record-breaking week that attracted over $3.5 billion into small-cap ETFs.
Data derived from Tradingview shows that the Pacer US Small Cap Cash Cows ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALF#NYSE">CALF</a>) has emerged as a frontrunner, drawing in over $3 billion in the last three months, closely followed by the Vanguard Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VB#NYSE">VB</a>) with $2.6 billion of inflows, of which $1.615 billion recorded in the last month alone. 
Despite this record influx of funds, Bank of America highlights that small caps remain undervalued relative to their historical performance.
Top 10 Small-Cap ETF By Inflows Over The Last Three Months
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Small-Cap ETF </td>
<td>1M Flows</td>
<td>3M Flows</td>
</tr>
<tr>
<td>Pacer US Small Cap Cash Cows </td>
<td>1.194B </td>
<td>3.096B</td>
</tr>
<tr>
<td>Vanguard Small-Cap ETF </td>
<td>1.615B </td>
<td>2.608B</td>
</tr>
<tr>
<td>iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>)</td>
<td>116.003M </td>
<td>1.651B</td>
</tr>
<tr>
<td>Avantis U.S. Small Cap Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVUV#NYSE">AVUV</a>)</td>
<td>695.473M </td>
<td>1.646B</td>
</tr>
<tr>
<td>Vanguard Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTWO#NYSE">VTWO</a>)</td>
<td>750.154M </td>
<td>1.411B</td>
</tr>
<tr>
<td>SPDR Portfolio S&amp;P 600 Small Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPSM#NYSE">SPSM</a>)</td>
<td>417.995M</td>
<td>915.308M</td>
</tr>
<tr>
<td>Vanguard Small-Cap Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VBK#NYSE">VBK</a>)</td>
<td>440.327M</td>
<td>741.54M</td>
</tr>
<tr>
<td>Schwab U.S. Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHA#NYSE">SCHA</a>)</td>
<td>520.145M </td>
<td>622.329M</td>
</tr>
<tr>
<td>Dimensional U.S. Small Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFAS#NYSE">DFAS</a>)</td>
<td>131.079M</td>
<td>507.818M</td>
</tr>
<tr>
<td>SSGA SPDR ETFS EUROPE II PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSEUF#NYSE">SSEUF</a>)</td>
<td>184.185M</td>
<td>484.932M</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">Small Caps: A Bullish Outlook For 2024</h2>
Bank of America&#8217;s analysis suggests a turning tide for small caps. Analyst Jill Carey Hall, CFA, maintains a bullish outlook, predicting that 2024 could mark the year when small caps outperform large caps for the first time in nearly a decade. 
This optimism stems from a resilient small-cap sector, which has priced in a recession that has yet to materialize, as evidenced by the Russell 2000&#8217;s performance.
With investor sentiment improving and valuations becoming more attractive, small caps present a compelling opportunity for long-term investors. The Russell 2000&#8217;s forward P/E ratio has dipped to 14.3x, positioning small caps as the only size segment that is historically inexpensive. 
According to Bank of America, the valuation gap between small and large caps is reminiscent of the disparity seen during the Tech Bubble, which preceded a decade of exceptional returns for small caps.
Bank of America&#8217;s analysis implies potential annualized returns of 10% over the next decade for the Russell 2000, compared to a modest 3% for the Russell 1000.
For 2024, Bank of America reinforces the strategy of focusing on value within the small and mid-cap spaces. This approach favors high-quality stocks over non-earners. Financials, Communication Services, and Industrials are identified as top sector overweights within small caps. 
Read Now: <a href="https://www.benzinga.com/money/best-small-cap-stocks">Best Small Cap Stocks Right Now</a>
Photo: Shutterstock

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/01/04/final-trades-netflix-qualcomm-waste-connections-and-small-caps.html">Halftime Report Final Trades</a>,&quot; Shannon Saccocia of Boston Private named iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) <a href="https://www.benzinga.com/quote/IJR"> as her final trade. </a>
Joshua Brown of Ritholtz Wealth Management picked Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>).
The Los Gatos, California-based entertainment company closed higher on Thursday, Jan. 4 at $474.67, with a change of 0.94% from the previous day&#39;s close. Tech shares, in general, saw a pullback.
Keybanc analyst Justin Patterson, last month, maintained Netflix with an Overweight and raised the price target from $510 to $525.
The streaming platform, during October, reported better-than-expected results for its third quarter. The company said third-quarter revenue increased 7.8% year-over-year to $8.54 billion, which beat the consensus estimate of $8.53 billion.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Jim Lebenthal of Cerity Partners named QUALCOMM Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>) as his final trade.
Qualcomm&rsquo;s Qualcomm Technologies announced the Snapdragon XR2+ Gen 2 Platform, a single-chip architecture that unlocks 4.3K spatial computing at 90 frames per second for to achieve improved <a href="https://www.benzinga.com/news/24/01/36486141/next-gen-ar-and-vr-experiences-qualcomms-latest-snapdragon-xr2-promises-unmatched-visual-fidelity">visual clarity for work and play</a>.
Karen Firestone of Aureus Asset Management picked Waste Connections, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wcn#NYSE">WCN</a>).
Stifel analyst Michael Hoffman, last month, maintained Waste Connections with a Buy and raised the price target from $168 to $175.
Price Action: iShares Core S&amp;P Small-Cap ETF fell 0.2%, while Netflix shares gained 0.9% to settle at $474.67 on Thursday. QUALCOMM lost 1% to $136.17, while Waste Connections rose slightly by 0.01% to $147.48 during Thursday&rsquo;s session. 
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36488531/top-4-tech-stocks-youll-regret-missing-this-quarter"> Top 4 Tech Stocks You&#39;ll Regret Missing This Quarter </a>
Image: Unsplash

Netflix, Qualcomm, Waste Connections And More: CNBC's 'Final Trades'

Global X&#8217;s investment chief, Jon Maier, reflects on the investment landscape for 2024, which is shaping up to be particularly interesting, thanks to AI-related stocks, cloud computing, cybersecurity, emerging markets, and small caps for potential growth.
What Happened: Maier, who is associated with the  $48 billion award-winning AI exchange-traded fund (ETF) provider Global X, has identified several promising sectors for investors in 2024, <a href="https://www.businessinsider.com/ai-stocks-how-to-invest-2024-artificial-intelligence-global-x-2023-12?IR=T">reported</a> Business Insider. 
Among them, AI-related stocks, including Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), cloud computing, and cybersecurity, stand out as &#8220;naturals that fit together.&#8221;
Maier suggests investors consider the Global X Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOU#NASDAQ">CLOU</a>) and the Global X Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>), or alternatives such as the First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>) and the iShares Cybersecurity and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36260793/shibu-inu-is-at-the-brink-of-all-time-highs-will-it-roar-when-analysts-expect-a-historic-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shibu Inu Is At The Brink Of All-Time Highs, Will It Roar? When Analysts Expect A Historic Pop</a>
He also sees value in small caps due to their attractive valuations and seasonal trends, recommending ETFs like the Vanguard Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VB#NYSE">VB</a>) and the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>).
Maier also mentioned covered-call products, including Global X&#8217;s S&amp;P 500 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYLD#NYSE">XYLD</a>) and Nasdaq 100 Covered Call ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QYLD#NASDAQ">QYLD</a>). He added that they are a top idea if markets appear range-bound next year.
Moreover, Maier perceives potential in emerging markets, particularly India, due to its demographic changes and appeal to foreign investments.
Why It Matters: This surge in AI-focused ETFs comes amid increased attention on AI in the financial sector. SEC Chairman Gary Gensler has recently <a href="https://www.benzinga.com/news/23/12/36138511/gary-gensler-warns-companies-from-boasting-about-artificial-intelligence-dont-ai-wash">warned companies to refrain from overstating</a> their AI capabilities. While companies explore potential growth opportunities with AI, the SEC is closely monitoring them to ensure transparency. 
Read Next: <a href="https://www.benzinga.com/general/biotech/23/12/36175332/inmeds-nasdaq-inm-latest-research-demonstrates-potential-in-treating-alzheimers-with-a-rare-canna?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">InMed's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>) Latest Research Demonstrates Potential In Treating Alzheimer's with a Rare Cannabinoid Analog</a>
Image via Shutterstock
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Tech

CLOU

IHAK

NVDA

QYLD

SKYY

TSLA

Global X Funds Global X S&P 500 Covered Call ETF

XYLD

Investment Chief At $48B Global X Forecasts AI Stock Dominance In 2024: Unveils Top Investment Opportunities

Small cap stocks have been on a tear since the Federal Reserve signaled an end to its cycle of rate hikes at Wednesday&#8217;s policy meeting. 
Smaller listed companies are much more sensitive to interest rates than large caps, mostly because many higher relative levels of debt become more difficult to service when rates are high.
But with Fed rate cuts now expected in the early part of 2024, the Russell 2000 index has shot up to a 16-month high, having jumped 6.8% since the Fed announced its pivot to a more dovish policy stance on Wednesday.
Also Read: <a href="https://www.benzinga.com/markets/equities/23/12/36256020/sec-vs-elon-judge-rules-musk-must-testify-again-about-44b-twitter-takeover">SEC Vs. Elon: Judge Rules Musk Must Testify Again</a>
<h2 class="wp-block-heading">Monetary Policy Euphoria</h2>
&#8220;Nothing screams monetary policy euphoria more than the plethora of markets that have gone from year-to-date lows to now year-to-date highs all in the space of just two months,&#8221; said Barnaby Martin, strategist at Bank of America.
The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), an exchange traded fund that most closely follows the Russell small cap index, rose 6.4% in the past two days, while the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>), the largest and most liquid small cap ETF, was up 6.3% since the Fed meeting.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/15101406/newplot-16.png" alt="" class="wp-image-162592" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/15101406/newplot-16.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/15101406/newplot-16-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Like most equity indices, the Russell 2000 began its ascent in late October as the Fed held its main interest rate at 5.25%-5.5% for a second successive meeting. Increasingly dovish Fed rhetoric and slowing inflation rates helped propel stock markets further throughout November and December.
Since hitting a three-year low in late October, the Russell has jumped 22.4% compared with a 14.6% rise for the S&amp;P 500 over the same period and a 14.9% gain on the mega-cap Dow Industrials.
<h2 class="wp-block-heading">Small Caps Were Oversold</h2>
While small caps have outperformed large caps during the rally over the past two months, they were sold off more heavily during the downturn that preceded the rally. This took small caps into &#8220;oversold&#8221; territory, according to Nicholas Colas, co-founder at DataTrek.
&#8220;Higher interest rates put significant pressure on small, often unprofitable, growth companies because they raise these businesses' cost of capital,&#8221; said Colas.
He added: &#8220;Conversely, the S&amp;P 500 is dominated by large, money-making companies with much less need for incremental capital.&#8221;
Thus, for small caps to continue their rally into 2024, investors would need to be convinced there&#8217;s no recession that could erode balance sheets and interest rates would begin to normalize.
Now Read: <a href="https://www.benzinga.com/markets/equities/23/12/36244348/will-unemployment-spike-in-2024-history-of-fed-rate-cuts-would-suggest-so">Will Unemployment Spike In 2024? History Of Fed Rate Cuts Would Suggest So</a>
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US Small Caps Streak Ahead: Interest Rate Euphoria Gives America's Small Businesses A Boost

Mega-cap stocks have been <a href="https://www.benzinga.com/news/earnings/23/10/35510696/u-s-stocks-poised-to-extend-gains-as-fed-meeting-gets-underway-why-this-analyst-expects-young-bull-">going through volatility amid the market weakness</a> seen in the past three months. 
What Happened: Charlie Bilello, chief market strategist of Creative Planning Investor, shared a post on X, regarding the total 2023 returns from eight mega-caps, which he labeled &#8220;The Enormous Eight.&#8221;
The pack included Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
These stocks individually generated either triple- or double-digit returns compared to the Invesco S&amp;P 500 Equal Weight ETF&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>) -3% return for the year and the iShares Core S&amp;P Small-Cap ETF&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) -6% return.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2023 Total Returns&#8230; The Enormous Eight&#8230;<a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>: +182%<a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a>: +152%<a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>: +60%<a href="https://twitter.com/search?q=%24AMZN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMZN</a>: +58%<a href="https://twitter.com/search?q=%24MSFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSFT</a>: +42%<a href="https://twitter.com/search?q=%24GOOGL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOGL</a>: +41%<a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a>: +39%<a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a>: +32% Everyone Else&#8230; S&amp;P 500 Equal Weight ETF <a href="https://twitter.com/search?q=%24RSP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RSP</a>: -3% S&amp;P Small Cap ETF <a href="https://twitter.com/search?q=%24IJR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IJR</a>: -6%
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1719349483383787588?ref_src=twsrc%5Etfw">October 31, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-tech-stocks" rel="noreferrer noopener">Best Technology Stocks Right Now</a>
Cramer Cautious:&nbsp;CNBC Mad Money host&nbsp;Jim Cramer&#8216;s sentiment toward the &#8220;enormous eight,&#8221; however, is laced with caution.&nbsp;
&#8220;Each one set up like bowling pins,&#8221; he said, apparently referring to the risk of dropping under the slightest whiff of any negative tiding.
The stock picker said, &#8220;The only thing that can stop the ease of short-selling is the equilibrium of sellers to buyers.&#8221;
&#8220;We don&#8217;t have that yet,&#8221; he added.
Stocks such as Tesla and Apple have a very high number of shares held as short. About 93.03 million shares of Apple are shorted as of Oct. 13 and about 84.69 million of Tesla shares are shorted.
Heavy short interest reflects rising negative sentiment toward the stock, which can pull in more short sellers.
The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;slipped 0.45% to $416.32&nbsp;in premarket trading on Wednesday, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35529483/bearish-tesla-analyst-warns-of-potential-mass-exodus-by-big-institutional-investors">Bearish Tesla Analyst Warns Of Potential Mass Exodus By Big Institutional Investors: &#8216;It&#8217;s Poor Results…That Are Getting Worse&#8217;</a>

AAPL

AMZN

GOOG

GOOGL

MSFT

Rydex ETF Trust Rydex S&P Equal Weight ETF

Jim Cramer Prefers Caution Despite Impressive Returns From 'The Enormous Eight' Led By Nvidia, Meta: 'Each One Set Up Like Bowling Pins'

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2023/06/30/final-trades-visa-transocean-more.html">Halftime Report Final Trades</a>,&quot; Stephen Weiss of Short Hills Capital Partners named Jacobs Solutions Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/j#NYSE">J</a>), saying that it&rsquo;s a <a href="https://www.benzinga.com/news/23/06/33078234/pinterest-costco-and-2-other-stocks-insiders-are-selling"> &quot;long-term trade.&quot; </a>
Jacobs Solutions inked an Engineering Partnering Agreement (EPA) with Fortescue Future Industries (FFI) to aid its global ammonia, green hydrogen&nbsp;and renewable energy project targets.
Bryn Talkington of Requisite Capital Management named Visa Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/v#NYSE">V</a>), saying people will continue to swipe. Earnings for financial stocks will kick off in the next two weeks and will continue to rally over the next two weeks, she said.&nbsp;
Visa announced the acquisition of Pismo. The acquisition of Pismo will strategically position Visa to offer clients core banking and issuer processing capabilities across debit, prepaid, credit&nbsp;and commercial cards by leveraging cloud-native APIs.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here</a>.
Jim Lebenthal of Cerity Partners named Transocean Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rig#NYSE">RIG</a>) as his final trade.
Transocean announced a $184-million award for its harsh environment semisubmersible services.
Liz Young of BNY Mellon Investment Management picked iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>).
Price Action: Transocean shares rose 9.2% to settle at $7.01, while Visa shares rose 1.4% to close at $237.48 on Friday. Jacobs shares rose 0.5% to close at $118.89 during the Friday&rsquo;s session. 
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/06/33077115/top-3-energy-stocks-which-could-rescue-your-portfolio-this-month"> Top 3 Energy Stocks Which Could Rescue Your Portfolio This Month </a>
Photo via Pixabay.&nbsp;

Visa, Transocean, Jacobs Solutions And More: CNBC's 'Final Trades'

The Office of Florida Representative Scott Mr Franklin has reported a sale of iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) stock on March 7, 2023. According to the Periodic Transaction Report the transaction was placed on March 7, 2023.
What Happened: A recent report from the House of Representatives Clerk's Office on March 7, 2023 reveals that Franklin made a sale of <a href="www.benzinga.com/quote/IJR">iShares Core S&amp;P Small-Cap ETF</a> stock valued between $50,001 - $100,000.
iShares Core S&amp;P Small-Cap ETF shares are trading down 0.1% at $100.67 at the time of writing.
<h3>The Importance of Congressional Transactions</h3>
Congressional transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
A Congressional transaction is when any Representative or Senator either buys or sells an individual stock. Anyone working in Congress must file a Periodic Transaction Report to inform the public of their recent transaction within 30 days of being notified of the transaction and within 45 days of the transaction date.
When a Senator or Representative makes a new purchase, that could be an indication that they expect the stock to rise.
A sale, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
In April 2012, Former President Barack Obama signed the STOCK Act into law. The act prohibits members of Congress from using private information given to them by their position for personal gain such as buying or selling a stock. The act also expanded disclosure requirements for members of Congress by requiring them to file a monthly disclosure. 
<h3>Trade Recap</h3>
A March filing states that Florida Representative Scott Mr Franklin sold shares of iShares Core S&amp;P Small-Cap ETF. The exact amount of the transaction remained unknown but the filing states a range of $50,001 - $100,000.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Government

Politics

Florida Rep. Scott Mr Franklin Sold Over $50K Worth of iShares Core S&P Small-Cap ETF Stock: Here's What You Should Know

CNBC&rsquo;s &quot;Fast Money: Halftime Report&quot; delivers market-moving news to investors.
The commentary delivered by hosts of the show often moves the stocks mentioned. The information is collected and refined using <a href="https://benzinga.grsm.io/register174">Benzinga Pro&rsquo;s</a> News Tool. Benzinga Pro users can access this information by using the News tool on any workstation.
Call of the day: 
Lululemon Athletica Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lulu#NASDAQ">LULU</a>)
Final trades: 
Merck &amp; Co., Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) 
iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) 
Wynn Resorts, Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wynn#NASDAQ">WYNN</a>) 
Financial Select Sector SPDR Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlf#NYSE">XLF</a>)
Also Read:&nbsp;<a href="https://www.benzinga.com/news/22/07/28018387/homebuyers-are-backing-out-of-sales-at-record-levels-report">Homebuyers Are Backing Out Of Sales At Record Levels: Report</a>

LULU

WYNN

Hot Stocks: 5 Tickers Moved By Traders on 'Fast Money: Halftime Report'

The Russell 2000 small cap stock index recently experienced its first correction of at least 10% since the COVID-19 pandemic&nbsp;began in early 2020.
The index has retreated about 12% from its highs in late November, but investors looking to buy the dip in small cap stocks have several factors to consider.
Small Cap Pullback: On Tuesday, Bank of America analyst Jill Carey Hall discussed the <a href="https://www.benzinga.com/money/best-small-cap-etfs/">small cap</a> correction and why small cap stocks may not yet be in the clear. Hall said one of the reasons small cap stocks have significantly underperformed large-cap stocks in 2021 has been ongoing COVID-19 risks.
Related Link:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/21/09/22849073/this-model-suggests-negative-s-p-500-returns-over-the-next-decade"> This Model Suggests Negative S&amp;P 500 Returns Over The Next Decade</a> 
&ldquo;While our Biopharma team doesn&rsquo;t expect Omicron to change the course of the pandemic, broader shutdowns or any major resurgence that could derail the services recovery would support more caution on small [cap stocks],&rdquo; Hall said.
How To Play It: Biotech stocks have performed particularly poorly in 2021. Hall said there are various reasons why biotech stocks are lagging, including a lack of M&amp;A drivers, disappointing data readouts, investor perception of a tougher FDA and COVID concerns negatively impacting clinical trial enrollment.
Looking ahead, Hal said high-quality <a href="https://www.benzinga.com/money/best-small-cap-etfs/">small cap</a> stocks have outperformed 100% of the time during the late stages of economic cycles. Therefore, Bank of America is more bullish on the S&amp;P 600 small-cap index than the Russell 2000.
Hall said The S&amp;P 600 has a higher percentage of profitable companies. It also has less exposure to the biotech industry and more exposure to her preferred market sectors.
Benzinga&rsquo;s Take: Hall&rsquo;s preference for the S&amp;P 600 over the Russell 2000 has paid off so far in 2021. The iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) has generated a year-to-date total return of 22.2%, roughly double the year-to-date total return of the iShares Russell 2000 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iwm#NYSE">IWM</a>).
Also See:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/12/24492675/exclusive-shapeways-ceo-highlights-how-small-cap-3d-printing-could-be-an-nft-play">EXCLUSIVE: Shapeways CEO Highlights How Small Cap 3D Printing Could Be An NFT Play</a>

Specialty ETFs

Here's The Best Way To Play The Sell-Off In Small-Cap Stocks

On CNBC&rsquo;s &ldquo;<a href="https://www.cnbc.com/video/2021/11/04/final-trades-pfizer-ebay-amazon-more.html">Halftime Report Final Trades</a>,&rdquo; Rob Sechan of New Edge Capital Group said&nbsp;iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) was behind the curve and rates are &ldquo;headed higher.&rdquo;
Jon Najarian cited eBay Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebay#NASDAQ">EBAY</a>) after the earnings release. Calls expire next Friday. They&#39;re the 79 calls what the 76 is today,&nbsp;he commented. &ldquo;I&rsquo;ll sell the others as it rallies,&rdquo; Najarian added.
One of the traders named Pfizer Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>), saying&nbsp;the company has &ldquo;all the greatness of Moderna (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) plus so much more.&rdquo; Pfizer has much more stability and &ldquo;plenty of earnings growth ahead,&rdquo; she added. The stock currently trades at 11x earnings.
Joshua Brown of Ritholtz Wealth Management cited Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) as his top pick, although &ldquo;it is so boring.&rdquo; &ldquo;Hopefully not for long,&rdquo; he added.

EBAY

MRNA

CNBC's Final Trades: Pfizer, Small Caps And These 2 E-Commerce Giants

On Thursday, shares of iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) saw unusual options activity. After the option alert, the stock price moved up to $111.21. 
<ul>
<li>Sentiment: BEARISH</li>
<li>Option Type: SWEEP</li>
<li>Trade Type: CALL</li>
<li>Expiration Date: 2021-09-17</li>
<li>Strike Price: $115.00</li>
<li>Volume: 261</li>
<li>Open Interest: 22</li>
</ul>
<h2>Three Signs Of Unusual Options Activity</h2>
Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. The number of unsettled contracts that have been traded, but not yet closed, is called open interest. These contracts are not yet closed because a buyer has not purchased the contract, or a seller has not sold it.
Another sign of unusual activity is the trading of a contract with an expiration date in the distant future. Usually, additional time until a contract expires allows more opportunity for it to reach its strike price and grow its time value. Time value is important to consider because it represents the difference between the strike price and the value of the underlying asset. 
"Out of the money" contracts are unusual because they are purchased with a strike price far from the underlying asset price. "Out of the money" occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. Buyers and sellers try to take advantage of a large profit margin in these instances because they are expecting the value of the underlying asset to change dramatically in the future. 
<h2>Bullish And Bearish Sentiments</h2>
Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price. 
These observations are made without knowing the investor's true intent by purchasing these options contracts. The activity is suggestive of these strategies, but an observer cannot be sure if a bettor is playing the contract outright or if the options bettor is hedging a large underlying position in common stock. For the latter case, bullish options activity may be less meaningful than the exposure a large investor has on their short position in common stock.
<h2>Trading Options With These Strategies</h2>
Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.
For more information to understand options alerts, visit <a href="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts" title="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts">https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts</a>

Options

Understanding iShares Core S&P Small-Cap ETF's Unusual Options Activity

Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>) shares are trading higher by 13% at $96.41 Tuesday afternoon after it was announced the company is set to join the S&amp;P 600 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NASDAQ">IJR</a>).
Middlesex Water Company&nbsp;owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware&nbsp;and Pennsylvania.
Middlesex Water Company&#39;s regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. Middlesex Water Company&#39;s non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company&#39;s revenue is derived from the regulated segment and from residential customers.
Middlesex Water Company has a 52-week high of $96.67 and a 52-week low of $59.60.

Movers

MSEX

Why Middlesex Water Shares Are Trading Higher Today

Home to nearly $300 billion in assets under management as of Dec. 19, the SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) remains the world&#39;s largest and most heavily traded exchange traded fund.
SPY, <a href="https://www.ssga.com/us/en/intermediary/etfs/funds/spdr-sp-500-etf-trust-spy">which debuted in January 1993</a>, is also the oldest U.S.-listed ETF and with an expense ratio of just 0.0945% per year, or $9.45 on a $10,000 investment, the fund fits the bill as inexpensive. However, SPY has faced increased competition in recent years from rival S&amp;P 500 ETFs, namely the iShares Core S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ivv#NYSE">IVV</a>) and the Vanguard S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voo#NYSE">VOO</a>).
VOO and IVV were two of the fastest-growing ETFs of the soon to be completed and lower fees explain why. VOO, the Vanguard offering, charges just 0.03% per year year while IVV has an annual fee of 0.04%.
<h3>Why It&#39;s Important</h3>
State Street is finally fighting back, but it&#39;s not introducing a new ETF. Rather, the third-largest U.S. ETF sponsor is converting the $3.31 billion SPDR Portfolio Large Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/splg#NYSE">SPLG</a>) to an S&amp;P 500 ETF.
According <a href="https://www.ssga.com/library-content/products/fund-docs/etfs/us/ps/SPTM_SPLG_SPSM_LGLG_SMLV_SHE_Prospectus.pdf">to a statement of addition information</a> (SAI) issued earlier this week, SPLG, which currently tracks the SSGA Large Cap Index, will begin tracking the S&amp;P 500 on Jan. 24. SPLG&#39;s current expense ratio of 0.03% will be maintained, putting it into a tie with VOO for the honor of least expensive S&amp;P 500 ETF.
State Street has previously used a similar strategy with some success. For example, rather than lower the fee of the SPDR Gold Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gld#NYSE">GLD</a>), a favorite of active traders and professional investors, the firm introduced a lower cost counterpart. The SPDR Gold MiniShares Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gldm#NYSE">GLDM</a>) debuted in June 2018 and now has nearly $1.1 billion in assets under management.
GLDM charges 0.18% per year, or 22 basis points less than GLD.
<h3>What&#39;s Next</h3>
There&#39;s more.
State Street&#39;s SAI reveals the SPDR Portfolio Total Stock Market ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sptm#NYSE">SPTM</a>) will move to the S&amp;P Composite 1500 Index next month. With SPTM&#39;s current expense ratio of 0.03%, it will be tied with the iShares Core S&amp;P Total U.S. Stock Market ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/itot#NYSE">ITOT</a>) for least expensive ETF tracking that benchmark.
The SPDR Portfolio Small Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spsm#NYSE">SPSM</a>) is moving to the popular S&amp;P SmallCap 600 Index. With SPSM&#39;s annual fee of 0.05%, the fund undercuts the iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) and the Vanguard S&amp;P Small-Cap 600 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vioo#NYSE">VIOO</a>), both of which track the same index.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/12/15008189/2-more-esg-etfs-enter-a-growing-competitive-fray">Cheap, New ESG ETFs Launch</a>
<a href="https://www.benzinga.com/node/14992921">Consider These Leveraged ETFs In Q1</a>

GLDM

ITOT

SPLG

SPTM

VIOO

The Famous SPY ETF Is Getting A Low-Cost Stablemate

Historically, stocks perform well in the month of December, but that reputation was betrayed in significant fashion in 2018.
On a total return basis, which includes paid dividends, the SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>), the world&#39;s largest exchange traded fund, lost 10 percent last month. Underscoring the weakness in U.S. equities to end 2018 is the point that SPY was far from being the worst offender among domestic broad market ETFs.
<h3>What Happened</h3>
Another point paints the picture of just how bad things were for U.S. stocks last month: the only other December on record that was worse for the S&amp;P 500 than December 2018 was December 1931 when the index tumbled 14.5 percent.
&ldquo;However, the widespread losses across sectors, styles and sizes in the broad U.S. equity market was remarkable with every major segment down in December,&rdquo; said S&amp;P Dow Jones Indices Managing Director Jodie Gunzberg <a href="http://www.indexologyblog.com/2019/01/02/the-2nd-worst-december-is-only-half-the-story/">in a recent note</a>.&nbsp;&ldquo;Only 9 times in history has every segment of the U.S. equity market lost in a month (with all sector data starting in 1995 and style data in 1997.) Those months were Aug. 2015, Sep. 2011, May and Jun. 2010, Jan. and Feb. 2009, Oct. 2008, and Jul. and Sep, 2002.&rdquo;
<h3>Why It&#39;s Important</h3>
As Gunzberg points out, mid- and small-caps weren&#39;t immune from the December downdraft. The iShares Core S&amp;P Mid-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijh#NYSE">IJH</a>), which tracks the S&amp;P MidCap 400 Index, dropped 12.1 percent on a total return basis last month. The iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>), which targets the S&amp;P SmallCap 600 Index, fell 12.7 percent in December.
&ldquo;Not only was every segment of U.S. equities negative in December but 33 of 42 segments had their worst December ever,&rdquo; said Gunzberg. &ldquo;For the 9 other segments, 7 recorded their 2nd worst Decembers and 2 had their 3rd worst Decembers.&rdquo;
For IJH and IJR, December 2018 was the worst December on record for those ETFs and that&#39;s saying something because both funds have lengthy track records, having debuted in May 2000.
<h3>What&#39;s Next</h3>
That&#39;s hard to forecast, but the Health Care Select Sector SPDR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlv#NYSE">XLV</a>) and Utilities Select Sector SPDR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlu#NYSE">XLU</a>) were among the sector ETFs that held up fairly well last month.
&ldquo;What&rsquo;s next for equities is impossible to know for sure, especially when there has only once been a December this bad,&rdquo; said Gunzberg. &ldquo;While the year ended down 6.2% for the S&amp;P 500, its worst in a decade, there were 22 years prior with worse returns.&rdquo;
History suggests January rebounds often follow dismal Decembers on par with December 2018, but there are some instances in which a bad December was followed by January declines.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/19/01/12922150/it-may-be-time-to-look-at-this-etf-of-etfs">This ETF Could Be Ready To Soar</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/01/12922130/a-decent-outlook-for-consumer-discretionary-etfs">Consumer Cyclical ETFs Could Perk Up</a>

Sector ETFs

A December To Forget For Equity ETFs

Monday was a brutal day for the S&amp;P 500 and the related exchange traded funds, such as the SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>).
For the second consecutive day, every sector, market capitalization segment (large, mid and small) and investment factor (growth, value, etc.), declined.
<h3>What Happened</h3>
Tuesday&nbsp;started out better, but when the closing bell rang, SPY was up a meager 0.01 percent. While there&#39;s plenty of talk about a bear market being afoot, SPY and rival cap-weighted S&amp;P 500 ETFs are just over 13 percent below their 52-week highs, indicating large caps potentially have room to run to the downside.
&ldquo;Now every segment of the U.S. equity market is negative in December (month-to-date through Dec. 17, 2018.),&rdquo; said S&amp;P Dow Jones Indices Managing Director Jodie Gunzberg <a href="http://www.indexologyblog.com/2018/12/18/large-caps-lag-in-rebounds/">in a note</a>. &ldquo;Only 9 times in history has every segment of the U.S. equity market lost in a month (with all sector data starting in 1995 and style data in 1997.)&nbsp; &nbsp;Those months were Aug. 2015, Sep. 2011, May and Jun. 2010, Jan. and Feb. 2009, Oct. 2008, and Jul. and Sep, 2002.&rdquo;
<h3>Why It&#39;s Important</h3>
Just two sectors --&nbsp;health care and utilities --&nbsp;remain positive on a year-to-date basis. Health care, which accounts for 15.48 percent of SPY&#39;s sector weight, is rapidly giving up its year-to-date gains this month. Historical data indicate the S&amp;P 500&#39;s recent decline are nowhere close to some of the most treacherous bear markets of years past.
&ldquo;The last two bear markets lost 56.8% in the global financial crisis and 49.1% in the tech bubble burst,&rdquo; said Gunzberg.&nbsp;&ldquo;While this drop since Sep. 20, 2018 may feel painful, the S&amp;P 500 has further to fall before it reaches bear market status of a 20% drop.&rdquo;
Among market cap segments, <a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12863215/leveraged-etf-are-fighting-the-small-cap-bear">only small caps</a> are currently in official bear market territory. The iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>), which tracks the S&amp;P SmallCap 600 Index, is 22 percent below its 52-week high.
<h3>What&#39;s Next</h3>
There are no guarantees this will happen, but if stocks snap out of the recent bearish malaise, it&#39;s likely to happen to dramatic, rapid fashion.
&ldquo;However, the returns in the first days of a bull market are historically big on average, so it is important to try not to miss them,&rdquo; according to Gunzberg. &ldquo;After just 3 days, the S&amp;P 500 average return was 6.6%, and after 5, 10 and 20 days, the respective returns on average were 7.5%, 10.3% and 11.3%.&nbsp; Also, in 5 of 13 years (1932, 1970, 1974, 2002 and 2009,) returns of 10% or more were measured after just 5 days.&rdquo;
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12856324/how-to-focus-on-a-hot-corner-of-the-reit-market">The Right REIT ETF Right Now</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12849932/rethinking-global-fixed-income-strategies">A New Global Bond ETF</a>

Short Ideas

If History Is A Guide, Large-Cap ETFs Have Further To Fall

For much of this year, small-cap stocks and exchange traded funds were topping large-cap counterparts, a theme that <a href="https://www.benzinga.com/trading-ideas/long-ideas/18/07/11984138/small-cap-dominance-is-anything-but-tiny">drew plenty of attention</a>. That trend saw significant erosion in September.
Last month, large-cap ETFs such as the SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>), trounced small-cap funds, including the iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>). IJR, one of the largest ETFs tracking smaller stocks, targets the widely followed S&amp;P SmallCap 600 Index.
<h3>What Happened</h3>
Even after a rough September, IJR is up nearly 13 percent year-to-date, an advantage of slightly more than 200 basis points over SPY and the S&amp;P 500, but that doesn&#39;t obfuscate the small caps&#39; September struggles. Historical data confirm the large-cap/small-cap chasm was wide last month.
&ldquo;The <a href="https://my.spindices.com/indices/equity/sp-500">S&amp;P 500</a> gained 0.43% in Sep., reaching a new high, while the <a href="http://www.indexologyblog.com/2018/07/09/one-big-problem-in-july-for-one-small-cap-index/">S&amp;P SmallCap 600</a> failed to keep pace and lost 3.32%,&rdquo; <a href="http://www.indexologyblog.com/2018/10/01/bearish-divergence-may-signal-stock-market-warning/">said S&amp;P Dow Jones Indices</a>. &ldquo;This formed the biggest monthly large cap outperformance over small caps in 4 years, measuring 3.75%. Back in Sep. 2014, when the spread was 3.94%, though the magnitude of the large cap outperformance was impressive, it was less meaningful since both large caps and small caps fell together.&rdquo;
From 2012 through 2017, the IJR topped SPY in four of those six years, but last year, the gap was wide (850 basis points) in favor of the large-cap SPY.
<h3>Why It&#39;s Important</h3>
Data suggest rare are the times when large caps move higher without smaller stocks following suit.
&ldquo;What is far more interesting is what happens after the S&amp;P 500 reaches a new high while the S&amp;P SmallCap 600 falters,&rdquo; said S&amp;P Dow Jones. &ldquo;In only 24 of 297 months, or in 8.1% of months, has the S&amp;P SmallCap 600 lost while the S&amp;P 500 gained. Not only is this the current scenario but the bearish divergence has only been bigger 7 times in history where 2 of those times preceded major stock market drops.&rdquo;
<h3>What&#39;s Next</h3>
Some market observers believe small caps&#39; September swoon while large caps rallied could be a threat to the broader market, but there are potential catalysts looming in the fourth quarter for smaller equities.
&ldquo;Going into Q4, there may be politics and turmoil, but if there is <a href="http://www.indexologyblog.com/2018/01/25/small-caps-need-no-style-to-accelerate-with-gdp/">growth</a>, <a href="http://www.indexologyblog.com/2018/02/14/3-reasons-to-love-equities-when-rates-are-rising/">rising interest rates</a>, <a href="http://www.indexologyblog.com/2018/02/07/energy-stocks-beat-oil-futures-in-rising-inflation/">inflation</a> or a <a href="http://www.indexologyblog.com/2018/05/13/heres-how-a-rising-dollar-impacts-stocks/">rising dollar</a>, those conditions are historically supportive of small caps,&rdquo; according to S&amp;P Dow Jones.
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Small Cap Analysis

Large-Cap, Small-Cap Divergence Was Wide In September

Small-cap stocks and the relevant exchange-traded funds are trouncing their large-cap counterparts this year, a theme that isn&#39;t showing much sign of abating.
The iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>), which tracks the S&amp;P SmallCap 600 Index, is up 18.3 percent this year while ETFs and index funds tracking the larges-cap S&amp;P 500 were higher by 9.7 percent.
<h3>What Happened</h3>
Last month, the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/08/12238855/the-longest-bull-run-in-history-not-everybody-agrees">U.S. bull market became the longest on record</a>. Of course that means some stellar returns for the S&amp;P 500 and large-caps since March 10, 2009, but smaller stocks have been even more impressive.
&ldquo;While the record-breaking Bull market for the <a href="https://us.spindices.com/indices/equity/sp-500">S&amp;P 500</a> is spectacular, mid-caps and small caps did even better,&rdquo; <a href="http://www.indexologyblog.com/2018/09/04/the-biggest-bull-didnt-win/">said S&amp;P Dow Jones Indices</a>.&nbsp;&ldquo;The S&amp;P MidCap 400 posted an annualized 18.6% equity return and 20.5% with dividends, and the S&amp;P SmallCap 600 posted an annualized 20.9% equity return and 22.4% with dividends.&rdquo;
The iShares Core S&amp;P Mid-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijh#NYSE">IJH</a>) and the SPDR S&amp;P MidCap 400 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mdy#NYSE">MDY</a>) are among the ETFs offering exposure to the S&amp;P MidCap 400 Index.
<h3>Why It&#39;s Important</h3>
Smaller stocks continue topping their large-cap rivals. Last month, IJR beat the S&amp;P 500 by 150 basis points. Two months into the third quarter, IJR is beating the S&amp;P 500 by 30 basis points on a quarter-to-date basis.
&ldquo;The small cap outperformance was widened in Aug. with a monthly return of 4.8% versus 3.3% for large caps and 3.2% for mid-caps,&rdquo; according to S&amp;P Dow Jones. &ldquo;It was the sixth straight positive month for small-caps delivering a total return of 20.0% over the period in the strongest run since the six months ending Mar. 2012, when the index gained of 31.2%.&rdquo;
Last month, nine of 11 small-cap sectors generated positive returns.
<h3>What&#39;s Next</h3>
Sectors such as health care and industrials are driving domestic small-cap benchmarks higher this year. Those sectors combine for nearly a third of IJR&#39;s weight.
&ldquo;For example, <a href="https://us.spindices.com/indices/equity/sp-600-industrials-sector">industrials</a>, the biggest sector in the S&amp;P 600, is having its best year since 1997, up 17.5% ytd, and its third best on record,&rdquo; according to S&amp;P Dow Jones. &ldquo;The smaller companies of this sector may be more insulated from U.S.-China trade tensions and also has less <a href="http://www.indexologyblog.com/2018/07/02/small-cap-premium-is-5th-biggest-in-history/">revenues coming from overseas</a> so has outperformed the large-cap industrials. Also, heath care in small caps is having its second best year on record, up 47.4%, the best ytd performance since 2000.&rdquo;
<iframe allow="autoplay; encrypted-media" frameborder="0" height="315" src="https://www.youtube.com/embed/kqr-h-pmky4" width="560"></iframe>
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Small-Cap ETFs Kept It Rolling In August

Fidelity, one of the largest providers of <a href="https://www.benzinga.com/investing/best-index-funds/">index funds</a> and mutual funds, <a href="https://www.benzinga.com/news/18/08/12120359/fidelity-rolls-out-zero-fee-index-funds">said Wednesday</a> it&#39;s introducing two equity-based index funds that will not have expense ratios.
The Fidelity ZERO Total Market Index Fund (FZROX) and Fidelity ZERO International Index Fund (FZILX), which are expected to debut Friday, will have annual expense ratios of 0.00 percent.
<h3>What Happened</h3>
Fidelity&#39;s move to introduce no-fee index funds is the latest move by a major fund giant to compress fees in a bid to gain more assets from advisors and investors. Boston-based Fidelity, which is also a major player in the actively managed mutual fund and exchange-traded funds spaces, competes directly with firms such as Charles Schwab (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/schw#NASDAQ">SCHW</a>) and Vanguard, two firms known for low-fee ETFs and index funds as well as low trading commissions.
Recently, Pennsylvania-based Vanguard said it would cease charging trading commissions <a href="https://www.benzinga.com/trading-ideas/long-ideas/18/07/11969064/vanguard-is-the-new-beast-in-the-commission-free-space">on nearly 1,800 ETFs</a>.
Fidelity said it will now offer zero minimums to open accounts, zero account fees and zero domestic money transfer fees. The company is also eliminating investment minimums on mutual funds and 529 college savings plans.
&ldquo;In addition to offering the industry&rsquo;s first self-indexed mutual funds with a zero expense ratio, Fidelity is reducing the pricing on its existing stock and bond index mutual funds,&rdquo; <a href="https://www.businesswire.com/news/home/20180801005635/en/Fidelity-Rewrites-Rules-Investing-Deliver-Unparalleled-Simplicity">said Fidelity in a statement</a>. &ldquo;Fidelity will provide investors the lowest priced share class available, ensuring every investor, regardless of how much they invest, will benefit from the lowest possible fees.&rdquo;
<h3>Why It&#39;s Important</h3>
Fidelity is also significantly expanding its lineup of commission-free ETFs via its longstanding partnership with BlackRock Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) iShares unit, the world&#39;s largest ETF sponsor.
Fidelity is increasing the number of iShares ETFs available to clients on a commission-free basis to 240.
&ldquo;As a long standing partner with Fidelity on ETFs, we are pleased that Fidelity has expanded the number of commission-free iShares funds on its platform to 240,&rdquo; said BlackRock. &ldquo;Investors and advisors will now have even greater access to iShares ETFs as key building blocks for their investment portfolios. This, and the other actions Fidelity has taken, mean that it will be even easier for investors to access iShares ETFs.&rdquo;
<h3>What&#39;s Next</h3>
Among the iShares ETFs now available to Fidelity clients without commissions are heavyweights, including the iShares Core S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ivv#NYSE">IVV</a>) and the iShares Core S&amp;P SmallCap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>) as well as a slew of sector and single-country funds. A full list of the iShares ETFs available commission-free on Fidelity <a href="https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/Fidelity-iShares-commission-free-ETFs.pdf">can be seen here</a>.
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Personal Finance

SCHW

Fidelity Ups The Ante In ETF, Index Fund Fee War

In the first half of 2018, one of the most notable trends in the U.S. equity market was the dominance of small-cap stocks and&nbsp;related exchange traded funds&nbsp;over large-cap counterparts.
The iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>), which tracks the widely followed S&amp;P SmallCap 600 Index, is up 10.7 percent as of July 3, while S&amp;P 500 tracking ETFs are higher by 2.4 percent. On a historical basis, it&#39;s rare for smaller stocks to top large-caps by such wide margins in the first six months of the year.
<h3>What Happened</h3>
The small-to-large-cap spread is the widest in eight years, since the first half of 2010, and it&#39;s driven by tariff and foreign trade policy concerns, according to&nbsp;<a href="http://www.indexologyblog.com/2018/07/02/small-cap-premium-is-5th-biggest-in-history/">S&amp;P Dow Jones Indices</a>.
&ldquo;In the past four months, the smaller companies have outperformed larger companies by 10.1 percent, contributing to the fifth-biggest realized small-cap premium in the first half of any year in history.&rdquo;
Trade tensions, among other factors, are contributing to elevated volatility for large-caps. Year-to-date, IJR&#39;s annualized volatility is 50 basis points below that of S&amp;P 500 ETFs. IJR&#39;s three-year standard deviation of 13.76 percent is 346 basis points higher than the S&amp;P 500.
<h3>Why It&#39;s Important</h3>
Investors are embracing small-caps as the asset classes outperforms. In the second quarter, IJR took in $3.39 billion in new money, a total surpassed by just three other ETFs.
&ldquo;The smaller cap stocks are less sensitive to international relations generally from the higher percentage of revenue generated in the U.S., though they are still impacted by sector fundamentals and the percentage of exports of foreign output since the U.S. economy is largely driven by consumer spending,&rdquo; said S&amp;P Dow Jones Indices.
The industrial, financial services and technology sectors combine for over half of IJR&#39;s weight. On average, those sectors in the S&amp;P SmallCap 600 generate 74 percent of their revenue in the U.S. In the S&amp;P 500, those sectors depend on the U.S. for just over 60 percent of revenue&nbsp;on average.
<h3>What&#39;s Next</h3>
The strong dollar is helpful for small-caps, particularly industrials, due to the aforementioned domestic focus.
&ldquo;The <a href="http://www.indexologyblog.com/2018/05/13/heres-how-a-rising-dollar-impacts-stocks/">rising dollar</a> increases the small-cap industrials 84 basis points on average for every 1-percent&nbsp;dollar increase, whereas the large-caps only rise 67 basis points for the same dollar move,&rdquo; according to&nbsp;S&amp;P.
&ldquo;Also,&nbsp;<a href="http://www.indexologyblog.com/2018/02/14/3-reasons-to-love-equities-when-rates-are-rising/">for every 100-basis point rise in interest rates</a>, the small-cap industrials have risen 8.6 percent on average versus just 4.8 percent for large-cap industrials.&nbsp; The result has been a 10-percent small-cap premuim for the sector this year.&rdquo;
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