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

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) saw 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. Currently, 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 13,697 shares, the days-to-cover ratio is presently 1.0 days.

MAX Auto Industry -3x Inverse Leveraged ETN Stock Performance

CARD traded up $0.12 during trading on Monday, hitting $2.56. The stock had a trading volume of 1,614 shares, compared to its average volume of 22,309. The firm has a market capitalization of $1.54 million, a P/E ratio of -177.99 and a beta of -3.39. The company’s 50-day moving average price is $3.03 and its 200 day moving average price is $2.86. MAX Auto Industry -3x Inverse Leveraged ETN has a twelve month low of $2.29 and a twelve month high of $4.61.

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.