Short Interest in MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) Grows By 140.1%

MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 745,229 shares, an increase of 140.1% from the April 30th total of 310,439 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily volume of 994,953 shares, the days-to-cover ratio is presently 0.7 days.

MAX S&P 500 4x Leveraged ETN Price Performance

Shares of NYSEARCA:SPYU traded up $0.26 during trading on Friday, hitting $35.97. The company’s stock had a trading volume of 619,710 shares, compared to its average volume of 1,591,245. The company has a 50-day moving average of $28.13 and a 200-day moving average of $27.52. MAX S&P 500 4x Leveraged ETN has a 12 month low of $17.45 and a 12 month high of $36.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MAX S&P 500 4x Leveraged ETN stock. Flow Traders U.S. LLC purchased a new position in shares of MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,719 shares of the company’s stock, valued at approximately $420,000. Flow Traders U.S. LLC owned about 0.28% of MAX S&P 500 4x Leveraged ETN at the end of the most recent reporting period.

About MAX S&P 500 4x Leveraged ETN

The MAX S&P 500 4X Leveraged ETN (SPYU) is an exchange-traded note that is based on the S&P 500 index. The fund is passively managed, tracking 4x the daily performance of a total return index comprised of US large-cap companies. SPYU was launched on Dec 7, 2023 and is issued by Max.