YieldMax Crypto Industry and Tech Portfolio Option Income ETF Sees Surge in Short Interest
The YieldMax Crypto Industry and Tech Portfolio Option Income ETF (LFGY) has seen an increase in short interest, according to MarketBeat. As of September 15th, there were 6,447 shares sold short, representing 0.12% of the public float. This marks a 230.45% increase in short interest since the prior report.
The short interest ratio (days to cover) is 0.2, meaning it would take 0.2 days of the average trading volume of 65,807 shares to cover all short positions. The current short interest percentage is below 10%, indicating positive investor sentiment and few short sellers.
Short selling LFGY aims to generate profit from the ETF's falling price. However, a short squeeze occurs when there is a large amount of short interest and the stock appreciates in price, forcing short sellers to cover their positions by buying actual shares.