Short Interest in MAX Auto Industry 3x Leveraged ETN (NYSEARCA:CARU) Declines By 94.7%

MAX Auto Industry 3x Leveraged ETN (NYSEARCA:CARU) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 500 shares, a drop of 94.7% from the July 30th total of 9,469 shares. Based on an average daily trading volume, of 586 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.3% of the company’s stock are short sold.

MAX Auto Industry 3x Leveraged ETN Stock Performance

NYSEARCA CARU traded up $0.51 during trading on Tuesday, hitting $23.77. The stock had a trading volume of 19 shares, compared to its average volume of 738. MAX Auto Industry 3x Leveraged ETN has a 12 month low of $18.49 and a 12 month high of $37.63. The company’s 50-day moving average price is $23.31 and its two-hundred day moving average price is $23.74. The company has a market capitalization of $3.80 million, a PE ratio of 19.04 and a beta of 3.46.

About MAX Auto Industry 3x Leveraged ETN

The MAX Auto Industry 3X Leveraged ETN (CARU) 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. CARU was launched on Jun 30, 2023 and is issued by Max.