Short Interest in MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) Drops By 49.4%

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 24,328 shares, a drop of 49.4% from the May 31st total of 48,104 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average trading volume of 27,059 shares, the days-to-cover ratio is currently 0.9 days.

MAX Auto Industry -3x Inverse Leveraged ETN Price Performance

Shares of NYSEARCA:CARD traded down $0.02 during trading on Thursday, reaching $2.41. 6,779 shares of the company’s stock traded hands, compared to its average volume of 21,917. The company has a 50 day moving average of $2.74 and a 200-day moving average of $2.81. MAX Auto Industry -3x Inverse Leveraged ETN has a 12 month low of $2.29 and a 12 month high of $4.07. The stock has a market capitalization of $1.45 million, a P/E ratio of -167.63 and a beta of -3.31.

MAX Auto Industry -3x Inverse Leveraged ETN Company Profile

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.