![Check Your Calendar [Spread]](https://www.interactivebrokers.com/campus/wp-content/uploads/sites/2/2025/05/pod20250506mtkcham_coverimage-700x394.jpg "Check Your Calendar [Spread]")
Use the Securities Lending Dashboard to analyze short sale metrics for these and other stocks.
Largest Short Values of Stocks at IBKR
| Rank | Stock | Description |
| 1 | NIO | NIO INC – ADR |
| 2 | ABR | ARBOR REALTY TRUST INC |
| 3 | QBTS | D-WAVE QUANTUM INC |
| 4 | RGTI | RIGETTI COMPUTING INC |
| 5 | SOUN | SOUNDHOUND AI INC-A |
| 6 | ASTS | AST SPACEMOBILE INC |
| 7 | OKLO | OKLO INC |
| 8 | FLNG | FLEX LNG LTD |
| 9 | KC | KINGSOFT CLOUD HOLDINGS-ADR |
| 10 | CMPO | COMPOSECURE INC-A |
Excludes stocks with borrow fees less than 1%
Largest Short Values of ETFs / ETPs at IBKR
| Rank | ETF | Description |
| 1 | VXX | IPATH SERIES B S&P 500 VIX |
| 2 | SQQQ | PROSHARES ULTRAPRO SHORT QQQ |
| 3 | TQQQ | PROSHARES ULTRAPRO QQQ |
| 4 | XBI | SPDR S&P BIOTECH ETF |
| 5 | HYG | ISHARES IBOXX HIGH YLD CORP |
| 6 | ARKK | ARK INNOVATION ETF |
| 7 | RYLD | GLOBAL X RUSSELL 2000 COV CL |
| 8 | IBIT | ISHARES BITCOIN TRUST ETF |
| 9 | YANG | DRX DLY FTSE CHINA BEAR 3X |
| 10 | SOXS | DIREXION DAILY SEMI BEAR 3X |
Excludes ETFs with borrow fees less than 1%
Most Requested Stocks from the Securities Lending Desk
| Rank | Stock | Description |
| 1 | MLGO | MICROALGO INC |
| 2 | TNON | TENON MEDICAL INC |
| 3 | RGTI | RIGETTI COMPUTING INC |
| 4 | VVPR | VIVOPOWER INTERNATIONAL PLC |
| 5 | QUBT | QUANTUM COMPUTING INC |
| 6 | DATS | DATCHAT INC |
| 7 | OSRH | OSR HOLDINGS INC |
| 8 | PRTG | PORTAGE BIOTECH INC |
| 9 | CRWV | COREWEAVE INC-CL A |
| 10 | GTEC | GREENLAND TECHNOLOGIES HOLDI |
Includes requests from the past week
Most Requested ETFs / ETPs from the Securities Lending Desk
| Rank | ETF | Description |
| 1 | VXX | IPATH SERIES B S&P 500 VIX |
| 2 | SQQQ | PROSHARES ULTRAPRO SHORT QQQ |
| 3 | UVIX | 2X LONG VIX FUTURES ETF |
| 4 | SMCX | DEFIANCE DLY TRG 2X LNG SMCI |
| 5 | BOIL | PROSHARES ULTRA BLOOMBERG NA |
| 6 | MSTX | DEFIANCE DLY TRG 2X LNG MSTR |
| 7 | CONL | GRANITESH 2X LNG COIN ETF-US |
| 8 | FNGD | MICROSECTORS FANG+ INDEX -3X |
| 9 | HYHG | PROSHARES HIGH YIELD INTERES |
| 10 | IGHG | PROSHARES IG HEDGED |
Includes requests from the past week
Highest Borrows Fees (Stocks)
| Rank | Stock | Description |
| 1 | ARQQ | ARQIT QUANTUM INC |
| 2 | SKBL | SKYLINE BUILDERS GROUP HOL-A |
| 3 | SUNE | SUNATION ENERGY INC |
| 4 | MLGO | MICROALGO INC |
| 5 | GRRR | GORILLA TECHNOLOGY GROUP INC |
| 6 | LAES | SEALSQ CORP |
| 7 | QUBT | QUANTUM COMPUTING INC |
| 8 | VVPR | VIVOPOWER INTERNATIONAL PLC |
| 9 | OTLY | OATLY GROUP AB |
| 10 | PDYN | PALLADYNE AI CORP |
Excludes stocks with short value less than $1M
Highest Borrow Fees (ETFs / ETPs)
| Rank | ETF | Description |
| 1 | MSTZ | T-REX 2X INVERSE MSTR DT ETF |
| 2 | SBIT | PROSHARES ULTRASHORT BITCOIN |
| 3 | SMST | DEFIANCE DLY TRG 2X SHR MSTR |
| 4 | PLTU | DIREXION DLY PLTR BULL 2X SH |
| 5 | TSLZ | T-REX 2X INVERSE TESLA DLY |
| 6 | EURL | DRX DLY FTSE EUROPE BULL 3X |
| 7 | UVIX | 2X LONG VIX FUTURES ETF |
| 8 | REMX | VANECK RAR EARTH ND STG-USDI |
| 9 | IGOV | ISHARES INTERNATIONAL TREASU |
| 10 | TMV | DRX DLY 20+ YR TREAS BEAR 3X |
Excludes ETFs with short value less than $1M
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Can anyone share insight as to why the inverse, leveraged ETFs are being shorted so much? Obviously, there is no borrow fee for the NON-inverse version. Is it some sort of hedge that I’m not grasping? Is this a way to avoid the decay on a leveraged position?
There are a few reasons why inverse leveraged ETFs are frequently shorted: 1. **Hedging Strategy** – Some traders short inverse leveraged ETFs as a hedge against their long positions in the underlying asset. Since inverse ETFs move in the opposite direction of the asset they track, shorting them can act as a way to balance exposure. 2. **Decay Avoidance** – Leveraged ETFs suffer from **volatility decay** due to daily compounding. This means that over time, their returns can diverge significantly from the expected multiple of the underlying asset’s performance. Shorting an inverse leveraged ETF can be a way to capitalize on this decay rather than suffer from it. 3. **Margin & Borrowing Costs** – While non-inverse ETFs may not have a borrow fee, inverse leveraged ETFs often do. However, traders may still prefer shorting them due to their predictable decay and the ability to structure trades that benefit from their long-term underperformance. 4. **Market Sentiment & Arbitrage** – Some investors short inverse leveraged ETFs when they expect the market to rise, using them as a way to express bullish sentiment. Additionally, arbitrage opportunities can arise due to pricing inefficiencies in these ETFs.
Yes, Likely a pairs trade by institutions to capture volatility decay inherent in the inverse etfs. We have been chopping around a lot lately, I think the inverse ETFS work best in a trending market and do not make the equivalent index moves in periods where we are up one day and down the next.