-1x Short VIX Futures ETF (BATS:SVIX) Stock Price Down 30.4% – Here’s What Happened

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

-1x Short VIX Futures ETF Stock Down 30.4%

The stock has a 50 day simple moving average of $20.07 and a 200 day simple moving average of $17.67.

Institutional Investors Weigh In On -1x Short VIX Futures ETF

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in -1x Short VIX Futures ETF by 38.9% in the third quarter. JPMorgan Chase & Co. now owns 24,421 shares of the company’s stock valued at $522,000 after buying an additional 6,838 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of -1x Short VIX Futures ETF in the 2nd quarter worth about $6,387,000. Finally, Flow Traders U.S. LLC lifted its position in -1x Short VIX Futures ETF by 19.5% in the 2nd 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 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.