Short Interest in MicroSectors Gold 3x Leveraged ETN (NYSEARCA:SHNY) Expands By 67.5%

MicroSectors Gold 3x Leveraged ETN (NYSEARCA:SHNY) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 1,041,374 shares, an increase of 67.5% from the May 14th total of 621,739 shares. Currently, 10.4% of the company’s shares are short sold. Based on an average trading volume of 520,947 shares, the days-to-cover ratio is currently 2.0 days.

MicroSectors Gold 3x Leveraged ETN Price Performance

NYSEARCA:SHNY traded up $0.70 during trading hours on Monday, hitting $10.06. 980,625 shares of the stock traded hands, compared to its average volume of 1,096,704. The firm has a 50 day moving average price of $12.61 and a 200 day moving average price of $14.76. MicroSectors Gold 3x Leveraged ETN has a fifty-two week low of $6.63 and a fifty-two week high of $26.98.

MicroSectors Gold 3x Leveraged ETN Company Profile

The MicroSectors Gold 3X Leveraged ETNs (SHNY) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund is an exchange-traded note that provides 3x daily leveraged exposure to the spot price of gold by tracking GLD, an ETF that physically holds gold bars. SHNY was launched on Feb 24, 2023 and is issued by REX Microsectors.