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

MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 465,648 shares, a growth of 67.3% from the July 15th total of 278,410 shares. Based on an average daily volume of 655,400 shares, the short-interest ratio is currently 0.7 days. Currently, 2.9% of the company’s stock are sold short.

Hedge Funds Weigh In On MAX S&P 500 4x Leveraged ETN

An institutional investor recently bought a new stake in MAX S&P 500 4x Leveraged ETN stock. Flow Traders U.S. LLC acquired a new stake in MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,719 shares of the company’s stock, valued at approximately $420,000. Flow Traders U.S. LLC owned 0.28% of MAX S&P 500 4x Leveraged ETN at the end of the most recent reporting period.

MAX S&P 500 4x Leveraged ETN Stock Down 2.9%

MAX S&P 500 4x Leveraged ETN stock traded down $1.06 during midday trading on Tuesday, hitting $35.39. 455,132 shares of the stock were exchanged, compared to its average volume of 1,293,407. MAX S&P 500 4x Leveraged ETN has a 52-week low of $18.37 and a 52-week high of $37.82. The business’s 50-day moving average price is $33.36 and its 200-day moving average price is $29.80.

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.