For longtime denizens of Wall Street, it’s perhaps of some relief that Gen Z Ivy Leaguers are as puzzled by the past 18 months in financial markets as they are.

Burry’s Scion Asset Management owned bearish put contracts against 235,500 shares of the ARK Innovation ETF (ARKK) at the end of the second quarter.

About 56% of all recommendations on S&P 500 firms are listed as buys, the most since 2002.

In this week's fund news, direct indexing platform Veriti nears $1 billion in AUM; J.P. Morgan to convert four mutual funds to ETFs; and Hartford enters the ESG ETF market.

J.P. Morgan follows in the footsteps of Guinness Atkinson and Dimensional Fund Advisors with its plan to convert four equity mutual funds into similar active transparent ETFs next year.

Digital-asset investment products from Grayscale, Bitwise, 21Shares and others saw outflows for the fifth straight week, the longest such streak since January 2018.