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

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) was the target 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. Based on an average daily volume of 12,850 shares, the days-to-cover ratio is presently 3.7 days. Currently, 8.0% of the shares of the stock are sold short.

MAX Auto Industry -3x Inverse Leveraged ETN Stock Performance

CARD stock traded down $0.22 during trading on Thursday, hitting $2.63. 25,232 shares of the company’s stock traded hands, compared to its average volume of 22,170. MAX Auto Industry -3x Inverse Leveraged ETN has a 52 week low of $2.29 and a 52 week high of $4.61. The business has a fifty day simple moving average of $2.86 and a 200 day simple moving average of $2.82. The stock has a market capitalization of $1.58 million, a price-to-earnings ratio of -182.93 and a beta of -3.34.

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.