Some traders are also turning to the Direxion Daily CSI 300 China A Share Bear 1x Shares (NYSEArca: CHAD), the first inverse A-shares ETF to list in the U.S. Today is merely the eighth trading day for CHAD, but the ETF’s debut was undoubtedly well-timed. That much is confirmed by CHAD’s 9.2% jump today to a new high.
The ETF surged nearly 5% on Thursday, just a few days after robust creation activity in the fund took its shares outstanding total to 600,000 from 100,000. With A-shares slumping, more big creations could be on the way for CHAD. [Traders Rush to Inverse, Leveraged A-Shares ETFs]
Shanghai Composite
Chart Courtesy: SoberLook.com