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The Pacer Data and Digital Revolution ETF TRFK has hit maximum tightness in its lending pool. All three lending-market signals converged on 6 October: zero availability, rising cost to borrow, and a sharp one-day jump in short shares.
Availability fell to its tightest point on record as of 6 October. Every share in the lending pool is now lent out. That compares to 191% availability just one session earlier on 5 October, meaning the entire surplus evaporated in a single trading day.
Cost to borrow rose 93% over the past week to 6.72%. That is the highest rate since early October and nearly double the rate of 3.48% recorded on 28 September. Over the past month, the borrowing cost has risen 55%.
Estimated short shares jumped 220% in one session, from 6,844 on 5 October to 21,932 on 6 October. The one-day spike reverses a steep weekly decline. Shares short had fallen from 82,598 on 2 October to the 6 October low before the reversal. The broader trend over 30 days is still lower, down roughly 90% from levels above 270,000 shares seen in early September.
Float percentage is not calculable from available data, so the absolute share count gives the cleaner picture here.
The put/call ratio has moved materially since mid-September. It stood near 0.22 in late August and has climbed to 0.95 as of 6 October, a Z-score of 1.16 against the 20-day mean. That is not yet at an extreme, but the direction is clear: put activity relative to calls has roughly quadrupled in six weeks. The 52-week high for the PCR is 1.50, so there is room to run if bearish hedging continues.
See the live data behind this article on ORTEX.
Open TRFK on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
