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

MAX Auto Industry 3x Leveraged ETN (NYSEARCA:CARU) was the recipient of a large increase in short interest during 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. Based on an average daily volume of 1,778 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.6% of the shares of the stock are short sold.

MAX Auto Industry 3x Leveraged ETN Trading Down 7.5%

Shares of CARU stock opened at $17.84 on Tuesday. MAX Auto Industry 3x Leveraged ETN has a 1 year low of $17.84 and a 1 year high of $37.63. The firm’s 50 day moving average is $22.46 and its 200-day moving average is $22.75. The firm has a market capitalization of $2.85 million, a price-to-earnings ratio of 19.04 and a beta of 3.46.

MAX Auto Industry 3x Leveraged ETN Company Profile

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.