MicroSectors Gold 3x Leveraged ETN (NYSEARCA:SHNY) Short Interest Up 67.5% in May

MicroSectors Gold 3x Leveraged ETN (NYSEARCA:SHNY) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 1,041,374 shares, an increase of 67.5% from the May 14th total of 621,739 shares. Currently, 10.4% of the shares of the company are short sold. Based on an average trading volume of 520,947 shares, the days-to-cover ratio is currently 2.0 days.

MicroSectors Gold 3x Leveraged ETN Stock Up 2.0%

SHNY traded up $0.20 during midday trading on Wednesday, reaching $10.32. The company had a trading volume of 482,103 shares, compared to its average volume of 1,085,201. The business has a 50-day moving average price of $12.54 and a two-hundred day moving average price of $14.75. MicroSectors Gold 3x Leveraged ETN has a 12-month low of $6.63 and a 12-month high of $26.98.

About MicroSectors Gold 3x Leveraged ETN

The MicroSectors Gold 3X Leveraged ETNs (SHNY) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund is an exchange-traded note that provides 3x daily leveraged exposure to the spot price of gold by tracking GLD, an ETF that physically holds gold bars. SHNY was launched on Feb 24, 2023 and is issued by REX Microsectors.