MicroSectors Gold 3x Leveraged ETN (NYSEARCA:SHNY) Sees Large Drop in Short Interest

MicroSectors Gold 3x Leveraged ETN (NYSEARCA:SHNY) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 421,421 shares, a decline of 78.3% from the July 15th total of 1,941,926 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 662,970 shares, the short-interest ratio is presently 0.6 days.

MicroSectors Gold 3x Leveraged ETN Stock Performance

Shares of MicroSectors Gold 3x Leveraged ETN stock opened at $9.85 on Friday. The firm’s 50 day simple moving average is $8.68 and its two-hundred day simple moving average is $13.07. MicroSectors Gold 3x Leveraged ETN has a 12-month low of $6.82 and a 12-month high of $26.98.

About MicroSectors Gold 3x Leveraged ETN

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.