MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) Short Interest Up 262.9% in May

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 48,104 shares, a growth of 262.9% from the May 14th total of 13,254 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,850 shares, the days-to-cover ratio is presently 3.7 days.

MAX Auto Industry -3x Inverse Leveraged ETN Stock Performance

MAX Auto Industry -3x Inverse Leveraged ETN stock traded down $0.01 during trading hours on Friday, hitting $2.62. 93,073 shares of the stock were exchanged, compared to its average volume of 22,803. The stock has a market capitalization of $1.57 million, a P/E ratio of -182.24 and a beta of -3.34. MAX Auto Industry -3x Inverse Leveraged ETN has a 12 month low of $2.29 and a 12 month high of $4.61. The business’s 50-day moving average is $2.84 and its two-hundred day moving average is $2.82.

MAX Auto Industry -3x Inverse Leveraged ETN Company Profile

The MAX Auto Industry -3x Inverse Leveraged ETN (CARD) is an exchange-traded fund that is based on the Prime Auto Industry index. The fund is an exchange-traded note that tracks -3x the daily price movements of an index consisting of US-listed companies in the broader auto industry ecosystem. The index selects equities by market-cap and weights the resulting portfolio by liquidity. CARD was launched on Jun 30, 2023 and is issued by Max.