CARU
MAX Auto Industry 3x Leveraged ETN
stock NYSE ETF

Thanks! Your volume and bid / ask spread comments made me thinking. Specifically for these low-volume ETFs / ETNs with potentially big bid / ask spread.
E.g. CARU's top of the book is 100 @ $29.05 / 100 @ $29.25, i.e. 20 cent spread with minimal quantity. Let's assume just for easier discussion that the components of CARU are not moving at all. That means MMs should be happy to buy the components, exchange them for ETN shares and sell the ETN to traders at $29.25 all day long, raking up the profits due to the spread, right?
Is this what really happens in real life? I.e. if I bought the 100 @ $29.25 top of the book, is it expected that MMs would >not< increase the ask price (which definitely would happen in a low-liquidity regular stock), but introduce additional liquidity at $29.25 (because if they don't, some other MM will be happy to do so) and continue to do so until the underlying components' prices increase to a degree that makes this trade unprofitable for them?
I'm asking because I don't want to plan to trade 1000 shares of ETFs / ETNs like CARU, only to realize I can only trade 100 at the bid / ask and then the liquidity dries up or the slippage kicks in and ruins the profitability completely...

Thanks! Your volume and bid / ask spread comments made me thinking. Specifically for these low-volume ETFs / ETNs with potentially big bid / ask spread.
E.g. CARU's top of the book is 100 @ $29.05 / 100 @ $29.25, i.e. 20 cent spread with minimal quantity. Let's assume just for easier discussion that the components of CARU are not moving at all. That means MMs should be happy to buy the components, exchange them for ETN shares and sell the ETN to traders at $29.25 all day long, raking up the profits due to the spread, right?
Is this what really happens in real life? I.e. if I bought the 100 @ $29.25 top of the book, is it expected that MMs would >not< increase the ask price (which definitely would happen in a low-liquidity regular stock), but introduce additional liquidity at $29.25 (because if they don't, some other MM will be happy to do so) and continue to do so until the underlying components' prices increase to a degree that makes this trade unprofitable for them?
I'm asking because I don't want to plan to trade 1000 shares of ETFs / ETNs like CARU, only to realize I can only trade 100 at the bid / ask and then the liquidity dries up or the slippage kicks in and ruins the profitability completely...