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

MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 689,189 shares, an increase of 40.4% from the February 12th total of 490,791 shares. Based on an average daily volume of 1,332,466 shares, the days-to-cover ratio is presently 0.5 days. Approximately 9.8% of the company’s shares are short sold. Approximately 9.8% of the company’s shares are short sold. Based on an average daily volume of 1,332,466 shares, the days-to-cover ratio is presently 0.5 days.

MAX S&P 500 4x Leveraged ETN Stock Down 2.4%

NYSEARCA:SPYU traded down $0.57 during mid-day trading on Friday, reaching $22.72. The company’s stock had a trading volume of 2,758,147 shares, compared to its average volume of 1,558,081. The stock has a fifty day moving average of $27.23 and a 200-day moving average of $27.05. MAX S&P 500 4x Leveraged ETN has a 1 year low of $9.07 and a 1 year high of $30.21.

Hedge Funds 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 acquired a new position in MAX S&P 500 4x Leveraged ETN (NYSEARCA:SPYU) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

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.