Large speculators increased their net positions in the S&P500 stock futures markets last week for a sixth consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of S&P500 futures, traded by large speculators and hedge funds, totaled a net position of 9,943 contracts in the data reported through March 21st. This was a weekly gain of 1,593 contracts from the previous week which had a total of 8,350 net contracts.
Speculators have now raised their bullish net position to the highest level since December 13th when net positions totaled 15,031 contracts.
S&P500 Commercial Positions:
Meanwhile, the commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -16,363 contracts last week. This is a weekly change of -122 contracts from the total net of -16,241 contracts reported the previous week.
S&P500 Stock Market Index:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the S&P500 index closed at approximately 2344.02 which was a fall of -21.43 from the previous close of 2365.45, according to market data.