ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) Stock Falls 1.6% – Should You Sell?

ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) shares were down 1.6% during trading on Wednesday. The company traded as low as $63.95 and last traded at $64.41. Approximately 2,625,588 shares changed hands during trading, an increase of 43% from the average daily volume of 1,837,897 shares. The stock had previously closed at $65.45.

ProShares Short VIX Short-Term Futures ETF Stock Performance

The firm’s 50-day simple moving average is $62.86 and its 200-day simple moving average is $56.90.

Institutional Investors Weigh In On ProShares Short VIX Short-Term Futures ETF

Several hedge funds have recently made changes to their positions in the company. Clare Market Investments LLC purchased a new stake in ProShares Short VIX Short-Term Futures ETF in the first quarter worth about $572,000. DV Trading LLC raised its stake in ProShares Short VIX Short-Term Futures ETF by 182.5% during the first quarter. DV Trading LLC now owns 14,380 shares of the company’s stock valued at $659,000 after buying an additional 9,289 shares during the last quarter. Finally, Ramsey Quantitative Systems boosted its holdings in ProShares Short VIX Short-Term Futures ETF by 53.2% in the first quarter. Ramsey Quantitative Systems now owns 38,475 shares of the company’s stock worth $1,762,000 after acquiring an additional 13,355 shares in the last quarter.

ProShares Short VIX Short-Term Futures ETF Company Profile

The ProShares Short VIX Short-Term Futures ETF (SVXY) is an exchange-traded fund that is based on the S&P 500 VIX Short-Term Futures index. The fund provides inverse exposure to an index comprising first- and second-month VIX future positions resulting in a weighted average maturity of one month. SVXY was launched on Oct 3, 2011 and is managed by ProShares.