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Airline ETF Reacts to Short Covering
from ETF Trends
ETF Trends reports that the U.S. Global Jets ETF (JETS) saw positive movement through the month of December, but says there is another factor supporting this besides still low oil prices and holiday travel season. “Bearish traders that were previously short some of the largest holdings in JETS have been covering those positions, boosting shares of some of the largest U.S. carriers and JETS along the way,” writes Tom Lydon of ETF Trends. Earlier in 2016, airline stocks and the JETS ETF saw a boost when Warren Buffett returned to investing in the sector after years of avoiding the airline industry.
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