Short Interest in MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) Declines By 56.7%

MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 278,410 shares, a decline of 56.7% from the June 30th total of 643,457 shares. Based on an average daily trading volume, of 837,577 shares, the short-interest ratio is presently 0.3 days. Currently, 1.7% of the shares of the company are sold short.

MAX S&P 500 4x Leveraged ETN Stock Performance

Shares of NYSEARCA:SPYU traded up $0.29 during midday trading on Tuesday, reaching $31.46. 601,625 shares of the company traded hands, compared to its average volume of 1,366,174. The firm’s fifty day moving average price is $33.22 and its two-hundred day moving average price is $29.13. MAX S&P 500 4x Leveraged ETN has a 12 month low of $18.37 and a 12 month high of $36.70.

Institutional Investors Weigh In On MAX S&P 500 4x Leveraged ETN

A hedge fund recently bought a new stake in MAX S&P 500 4x Leveraged ETN stock. Flow Traders U.S. LLC bought a new position in MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,719 shares of the company’s stock, valued at approximately $420,000. Flow Traders U.S. LLC owned approximately 0.28% of MAX S&P 500 4x Leveraged ETN as of its most recent filing with the Securities & Exchange Commission.

MAX S&P 500 4x Leveraged ETN Company Profile

The MAX S&P 500 4X Leveraged ETN (SPYU) is an exchange-traded note that is based on the S&P 500 index. The fund is passively managed, tracking 4x the daily performance of a total return index comprised of US large-cap companies. SPYU was launched on Dec 7, 2023 and is issued by Max.