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Sell on the Pop Prospects: August 28 Edition

BY | ETF Database
08/28/2024 | 333 VIEWS
Here is a look at ETFs that currently offer attractive short selling opportunities. The ETFs included in this list are rated as sell candidates for two reasons. First, each of these funds is deemed to be in a downtrend based on the fact that its 50-day moving average is below its 200-day moving average, which are popular indicators for gauging long-term and medium-term trends, respectively. Second, each of these ETFs is also trading above its 20-day moving average, thereby offering a near-term ‘sell on the pop’ opportunity given the longer-term downtrend at hand. Note that this prospects list also features a liquidity screen by excluding ETFs with average trading volumes below the one million shares mark. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques. To get access to all ETF Database premium content, sign up for a free 14-day trial to ETF Database Pro. Only 16 ETFs made it to the list of sell on the pop prospects this month. The US stock market rose last month driven by prospects of interest rate cuts, AI growth, and strong quarterly earnings results. Volatility Shares 2x Bitcoin Strategy ETF (BITX C+) and ProShares Bitcoin Strategy ETF (BITO A-) which offer exposure to bitcoin returns topped the sell on the pop list driven by improving investor sentiment, strong US labor market data, and liquidations of short positions in the crypto futures. Global X Uranium ETF (URA B) also made it to the sell on the pop list, driven by supply uncertainty and rising demand. ARK Innovation ETF (ARKK B) was a sell on the pop candidate driven by increases in Tesla stock making it the highest-ever weighting in Cathie Wood’s flagship fund. Also, read our take on active thematic funds here iShares Latin America 40 (ILF A+) and iShares MSCI Brazil ETF (EWZ A-) featured on the sell on the pop list this month. Most Latin American markets gained, driven by Argentina’s Merval index, strong services industry, as well as, higher prices and strong demand for agriculture and commodities. Check out our list of Country ETFs here U.S. Global Jets ETF (JETS C+) was one of the sell on the pop candidates driven by declining Brent oil prices and the potential for lower operational costs. SPDR S&P Oil & Gas Exploration & Production ETF (XOP B+) ranked among the sell on the pop candidates as oil prices began to rise last week. Oil supplies are at risk due to geopolitical uncertainty. Russia is attacking Ukraine, and Libya has stopped producing oil. To compare this month’s list with the one published on August 14th, click here. ETFs to Sell on the PopPlease note that this list is updated on a monthly basis. For more ETF analysis, make sure to sign up for our free ETF newsletter. Disclosure: No positions at time of writing.

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