As Bloomberg notes, rising bearish bets on RSX could be a sign some market participants believe the ETF is due to pull back after recovering nearly three-quarters of 2014’s 47.2%. There is some evidence to that effect with a bearish leveraged Russia ETF.
Over the past 30 days, the Direxion Daily Russia Bear 3x Shares (NYSEArca: RUSS) has seen modest inflows, according to Direxion data. RUSS tries to deliver three times the daily performance of the Market Vectors Russia Index, RSX’s underlying index. [Increased Activity in International Leveraged ETFs]
Over the last week, RUSS’ volume jumped to 16.5% above the trailing 20-day average. Volume in the Direxion Daily Russia Bull 3x Shares (NYSEArca: RUSL) was almost 10% higher than normal over that period. RUSL has seen modest outflows over the past month, according to Direxion data.
Market Vectors Russia ETF
