Bears are moving back into the biggest exchange-traded fund tracking the S&P 500 Index a month after they cut short bets to the lowest level ever. More than 3 percent of the SPDR S&P 500 ETF Trust’s outstanding shares were sold short last week as total assets swelled to a record $234 billion. The trend indicates growing skepticism that the rally driving stocks to one record after another following the U.S. presidential election has much further to run.
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