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

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 23,218 shares, a decline of 36.2% from the July 30th total of 36,414 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 13,548 shares, the short-interest ratio is currently 1.7 days.

MAX Auto Industry -3x Inverse Leveraged ETN Stock Performance

Shares of CARD traded up $0.12 during mid-day trading on Tuesday, hitting $2.42. 30,709 shares of the company were exchanged, compared to its average volume of 20,623. MAX Auto Industry -3x Inverse Leveraged ETN has a 1-year low of $2.10 and a 1-year high of $4.03. The company has a 50 day moving average of $2.43 and a 200-day moving average of $2.77. The stock has a market cap of $1.45 million, a price-to-earnings ratio of -168.05 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.