-1x Short VIX Futures ETF (BATS:SVIX) Shares Down 5.9% – Time to Sell?

Shares of -1x Short VIX Futures ETF (BATS:SVIX) dropped 5.9% on Thursday . The company traded as low as $21.22 and last traded at $21.32. Approximately 8,397,117 shares changed hands during trading, an increase of 118% from the average daily volume of 3,855,220 shares. The stock had previously closed at $22.66.

-1x Short VIX Futures ETF Price Performance

The stock’s 50-day moving average is $23.17 and its 200 day moving average is $20.86.

Institutional Trading of -1x Short VIX Futures ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in -1x Short VIX Futures ETF during the 2nd quarter worth approximately $273,000. Flow Traders U.S. LLC lifted its position in -1x Short VIX Futures ETF by 19.5% in the second quarter. Flow Traders U.S. LLC now owns 91,537 shares of the company’s stock valued at $1,420,000 after purchasing an additional 14,957 shares during the period. Finally, Jump Financial LLC purchased a new stake in -1x Short VIX Futures ETF in the 2nd quarter valued at approximately $6,387,000.

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.