Traders are always on the lookout for the next short squeeze candidate. Short squeezes can send share prices skyrocketing in a matter of minutes and hours, and traders who are along for the ride can make a killing just by timing one squeeze correctly.
S3 Partners analyst Ihor Dusaniwsky released his latest list of the top short squeeze ETFs candidates based on short interest and short percent of float.
Dusaniwsky said there are currently only 11 U.S. ETFs with short interest of at least $25 million and short percent of float of at least 40%.
“Borrow rates on these ETF shorts are generally cheaper than equities with high SI % Float due to the ability for brokers to create ETFs as trading or stock borrow demand increases, although ETNs and leveraged ETFs usually have higher stock borrow rates due to the difficulty and expense of creating new shares,” Dusaniwsky wrote in the report.
Short Squeeze Candidates
Here are S3’s 10 best ETF candidates for a potential short squeeze.
- SPDR S&P Retail XRT, $878.0 million short interest, 326.4% of float.
- BARCLAYS IPTH SRS B S&P SHRT TRM ETN VXX, $982.0 million short interest, 139.7% of float.
- SPDR S&P Oil & Gas Explore & Prod. XOP, $1.88 billion short interest, 111.7% of float.
- VANECK VECTORS/SEMICONDUCTOR ETF SMH, $1.48 billion short interest, 99.1% of float.
- SPDR KBW Regional Banking KRE, $1.69 billion short interest, 95.3% of float.
- SPDR S&P Biotech XBI, $3.29 billion short interest, 84.9% of float.
- VANECK VECTORS/PHARMACEUTICAL ETF PPH, $95.0 million short interest, 61.9% of float.
- PROSHARES TR II/SHORT VIX SHORT-TER SVXY, $157.0 million short interest, 50.4% of float.
- VAR RATE VELOCITY S DGAZ, $88.0 million short interest, 43.4% of float.
- SPDR S&P Metals and Mining XME, $168.9 million short interest, 42.8% of float.
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