🔴 SPXS is trading 5.25% down as U.S. rally pressures inverse fund

SPXS is trading 5.25% down at $24.35 as a rally in U.S. equities pressures the inverse fund.

• SPXS targets -300% of the S&P 500’s daily performance, so index gains generally work against its daily objective.
• Major U.S. indexes rose more than 1.8% as markets reversed early election-related losses after investors responded to the Democratic congressional sweep and reduced uncertainty.
• No SPXS-specific catalyst was identified.