MAX Auto Industry 3x Leveraged ETN (NYSEARCA:CARU) Sees Significant Growth in Short Interest

MAX Auto Industry 3x Leveraged ETN (NYSEARCA:CARU) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 908 shares, an increase of 139.6% from the August 31st total of 379 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 1,778 shares, the days-to-cover ratio is presently 0.5 days.

MAX Auto Industry 3x Leveraged ETN Stock Down 7.5%

Shares of NYSEARCA CARU traded down $1.44 on Monday, reaching $17.84. 221 shares of the company’s stock traded hands, compared to its average volume of 764. MAX Auto Industry 3x Leveraged ETN has a 12 month low of $17.84 and a 12 month high of $37.63. The business’s 50 day simple moving average is $22.55 and its two-hundred day simple moving average is $22.79. The company has a market cap of $2.85 million, a price-to-earnings ratio of 19.04 and a beta of 3.46.

About MAX Auto Industry 3x Leveraged ETN

The MAX Auto Industry 3X Leveraged ETN (CARU) 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. CARU was launched on Jun 30, 2023 and is issued by Max.