MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Sees Large Drop in Short Interest

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 15,974 shares, a decrease of 45.3% from the September 30th total of 29,193 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 48,804 shares, the short-interest ratio is currently 0.3 days.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Stock Performance

Shares of OILU stock traded up $3.29 during mid-day trading on Friday, reaching $65.74. 58,284 shares of the company were exchanged, compared to its average volume of 208,551. The company has a market capitalization of $98.61 million, a P/E ratio of 8.27 and a beta of 1.29. MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN has a fifty-two week low of $21.29 and a fifty-two week high of $65.99. The business’s 50 day simple moving average is $54.39 and its 200 day simple moving average is $44.76.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Company Profile

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.