Further solidifying the notion that some traders are betting there is more upside to come for Treasury and are comfortable expressing that view with ETFs like TMV, TMV’s shares outstanding count rose by one million for three weeks ended May 12 and is up 30% this year. [Managing Risk With Geared ETFs]
For the five-day period ended May 12, TMV’s volume was nearly 65% above the trailing 20-day average. The only leveraged Direxion ETF with a larger volume spike over those five days was the Direxion Daily Basic Materials Bull 3x Shares (NYSEArca: MATL).
TMV Shares Outstanding
Chart Courtesy: Bloomberg
Tom Lydon’s clients own shares of TLT.