-1x Short VIX Futures ETF (BATS:SVIX) Trading Down 30.4% – Should You Sell?

-1x Short VIX Futures ETF (BATS:SVIX)’s stock price traded down 30.4% during mid-day trading on Thursday . The company traded as low as $25.32 and last traded at $16.8150. 3,553,759 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 5,196,463 shares. The stock had previously closed at $24.15.

-1x Short VIX Futures ETF Price Performance

The company has a 50 day simple moving average of $20.00 and a 200-day simple moving average of $17.70.

Hedge Funds Weigh In On -1x Short VIX Futures ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC bought a new stake in shares of -1x Short VIX Futures ETF in the second quarter valued at approximately $6,387,000. Flow Traders U.S. LLC raised its holdings in -1x Short VIX Futures ETF by 19.5% during the 2nd quarter. Flow Traders U.S. LLC now owns 91,537 shares of the company’s stock valued at $1,420,000 after acquiring an additional 14,957 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in -1x Short VIX Futures ETF by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,421 shares of the company’s stock worth $522,000 after purchasing an additional 6,838 shares in the last quarter.

About -1x Short VIX Futures ETF

The -1x Short VIX Futures ETF (SVIX) is an exchange-traded fund that is based on the Short VIX Futures index. The fund tracks an index that provides daily inverse exposure to a portfolio comprising first- and second-month VIX futures positions with a weighted average maturity of one month. SVIX was launched on Mar 30, 2022 and is managed by Volatility Shares.