Ultrashorts Get Pummeled
With the new ban on short selling, the financials are surging, up 11%. This is not the case for all those short and ultrashort ETFs.
Here is a list of 35 short ETFs. All are down for the day and 33 of the 35 are down over 3.5%. The ProShares Trust UltraShort FTSE 25 ETF leads the pack to the downside, down over 23%. These ETFs are traded on the American Stock Exchange. More details on these ETFs can be found at the AMEX site.