JPMorgan: Retail Investors Pour Record Funds into Leveraged Equity ETFs

according to Trend Research, JPMorgan’s capital flow report dated October 28, 2026 indicates that retail investors accelerated purchases of leveraged equity ETFs over the past two weeks, with October capital inflows hitting a record high, supporting the stabilization of AI-related stocks. As of October 27, QQQ's short interest ratio climbed to its highest level since 2023, and institutional short covering is expected to provide additional support.

JPMorgan stated that retail call option trading still retains recovery potential, while institutional equity positions remain below the mid-September peak. Corporate buybacks continue to provide support, with global buyback announcements totaling approximately $1.55 trillion through October 26. Financing channels for high-grade technology companies remain relatively open, but significantly tighter financing conditions could impact capital expenditures and buyback arrangements.