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

MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 745,229 shares, a growth of 140.1% from the April 30th total of 310,439 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 994,953 shares, the short-interest ratio is currently 0.7 days.

MAX S&P 500 4x Leveraged ETN Stock Performance

Shares of SPYU traded up $0.28 during trading hours on Tuesday, reaching $36.25. The company had a trading volume of 642,001 shares, compared to its average volume of 1,582,051. MAX S&P 500 4x Leveraged ETN has a 12-month low of $17.66 and a 12-month high of $36.69. The firm has a 50 day simple moving average of $28.41 and a 200-day simple moving average of $27.56.

Institutional Investors 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 purchased a new stake in MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 9,719 shares of the company’s stock, valued at approximately $420,000. Flow Traders U.S. LLC owned about 0.28% of MAX S&P 500 4x Leveraged ETN as of its most recent filing with the SEC.

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.