MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) Sees Significant Growth in Short Interest

MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,286,817 shares, a growth of 86.7% from the February 26th total of 689,189 shares. Approximately 18.4% of the shares of the stock are sold short. Based on an average daily volume of 2,302,617 shares, the short-interest ratio is currently 0.6 days.

MAX S&P 500 4x Leveraged ETN Trading Down 7.2%

MAX S&P 500 4x Leveraged ETN stock traded down $1.59 during mid-day trading on Thursday, hitting $20.37. The stock had a trading volume of 2,173,173 shares, compared to its average volume of 1,714,530. MAX S&P 500 4x Leveraged ETN has a one year low of $9.07 and a one year high of $30.21. The firm’s 50 day moving average is $26.02 and its 200 day moving average is $26.89.

Hedge Funds Weigh In On MAX S&P 500 4x Leveraged ETN

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

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.