You can do both. Investors are advised to lighten their positions after the fund rises sharply, which can avoid the situation that the fund continues to rise and leads to short positions. Investors are not sure whether they will rise in the future, so they can reduce their positions by half first to ensure part of the income, and then reduce their positions by half after the fund continues to rise, and so on until the funds are all sold.

If the fund subsequently falls, or investors judge that there is a possibility of a correction in the market outlook, then it is best to clear the position and leave the bag for safety.