MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) Sees Significant Increase in Short Interest

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 13,254 shares, a growth of 158.1% from the April 30th total of 5,135 shares. Based on an average daily trading volume, of 13,697 shares, the short-interest ratio is currently 1.0 days. Approximately 2.2% of the company’s stock are short sold.

MAX Auto Industry -3x Inverse Leveraged ETN Price Performance

MAX Auto Industry -3x Inverse Leveraged ETN stock traded up $0.01 during midday trading on Friday, hitting $2.44. 7,896 shares of the stock were exchanged, compared to its average volume of 22,515. The company has a 50 day moving average price of $3.03 and a two-hundred day moving average price of $2.86. The firm has a market cap of $1.46 million, a P/E ratio of -169.72 and a beta of -3.39. MAX Auto Industry -3x Inverse Leveraged ETN has a 1 year low of $2.29 and a 1 year high of $4.61.

About MAX Auto Industry -3x Inverse Leveraged ETN

The MAX Auto Industry -3x Inverse Leveraged ETN (CARD) 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. CARD was launched on Jun 30, 2023 and is issued by Max.