ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (NYSEARCA:MTUL) Sees Significant Drop in Short Interest

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (NYSEARCA:MTUL) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 264 shares, a drop of 49.8% from the May 31st total of 526 shares. Based on an average daily volume of 2,795 shares, the short-interest ratio is presently 0.1 days. Approximately 0.2% of the company’s shares are sold short.

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN Price Performance

Shares of NYSEARCA MTUL traded up $6.79 during midday trading on Tuesday, hitting $66.89. 437 shares of the company traded hands, compared to its average volume of 892. ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN has a 12-month low of $27.80 and a 12-month high of $67.27. The stock has a 50-day moving average price of $55.05 and a 200 day moving average price of $43.90.

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN Company Profile

The ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) is an exchange-traded fund that is based on the MSCI USA Momentum index. The fund provides 2x leveraged exposure to an index of US large- and mid-cap securities selected and weighted based on momentum. MTUL was launched on Feb 5, 2021 and is issued by ETRACS.