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

MAX Auto Industry -3x Inverse Leveraged ETN (NYSEARCA:CARD) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 7,089 shares, a decrease of 66.8% from the September 30th total of 21,335 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 10,248 shares, the days-to-cover ratio is currently 0.7 days.

MAX Auto Industry -3x Inverse Leveraged ETN Stock Performance

CARD traded down $0.02 during trading on Friday, reaching $2.60. The company had a trading volume of 36,698 shares, compared to its average volume of 19,298. MAX Auto Industry -3x Inverse Leveraged ETN has a 12-month low of $2.10 and a 12-month high of $4.03. The firm’s 50-day simple moving average is $2.67 and its 200 day simple moving average is $2.74. The company has a market cap of $1.56 million, a price-to-earnings ratio of -180.84 and a beta of -3.42.

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.