🔴 SPXS is trading 3.5% down today as a broad market rebound pressures inverse ETFs

SPXS is trading 3.5% down at $27.59 as the S&P 500 and Nasdaq stage a strong rebound, lifting equities and pressuring this inverse bear ETF.

• The move is driven by a broad risk-on rally fueled by strong Microsoft earnings and cooling inflation data.
• Equities are seeing significant dip-buying interest following the prior session’s selloff.
• With no fund-specific news or filings today, the price action is tied directly to the recovery in the broader indices.