MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Sees Significant Decline in Short Interest

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 15,286 shares, a decline of 59.7% from the April 30th total of 37,896 shares. Based on an average trading volume of 194,524 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.0% of the shares of the company are short sold.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Trading Down 2.8%

OILU stock traded down $1.14 during midday trading on Friday, reaching $40.15. The stock had a trading volume of 192,100 shares, compared to its average volume of 292,643. MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN has a 52-week low of $18.91 and a 52-week high of $61.42. The company has a market cap of $60.23 million, a price-to-earnings ratio of 8.27 and a beta of 1.35. The company’s fifty day simple moving average is $46.93 and its 200 day simple moving average is $36.16.

About MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.