iPath Series B S&P 500 VIX Short-Term Futures ETN (BATS:VXX) Trading Down 32% – Time to Sell?

iPath Series B S&P 500 VIX Short-Term Futures ETN (BATS:VXX) shares dropped 32% on Friday . The company traded as low as $43.43 and last traded at $32.2460. Approximately 8,298,200 shares changed hands during trading, an increase of 34% from the average daily volume of 6,213,590 shares. The stock had previously closed at $47.42.

iPath Series B S&P 500 VIX Short-Term Futures ETN Stock Performance

The business’s 50-day moving average is $34.36 and its two-hundred day moving average is $41.20.

Institutional Trading of iPath Series B S&P 500 VIX Short-Term Futures ETN

A number of hedge funds have recently added to or reduced their stakes in the business. Trivest Advisors Ltd increased its stake in shares of iPath Series B S&P 500 VIX Short-Term Futures ETN by 396.0% during the 3rd quarter. Trivest Advisors Ltd now owns 213,300 shares of the company’s stock valued at $7,073,000 after acquiring an additional 170,300 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in iPath Series B S&P 500 VIX Short-Term Futures ETN by 710.8% in the third quarter. JPMorgan Chase & Co. now owns 168,433 shares of the company’s stock valued at $5,585,000 after purchasing an additional 147,660 shares during the period. Quinn Opportunity Partners LLC purchased a new stake in iPath Series B S&P 500 VIX Short-Term Futures ETN in the third quarter valued at approximately $2,222,000. JBF Capital Inc. acquired a new position in iPath Series B S&P 500 VIX Short-Term Futures ETN during the first quarter worth approximately $3,088,000. Finally, DRW Securities LLC purchased a new position in iPath Series B S&P 500 VIX Short-Term Futures ETN during the first quarter worth approximately $1,962,000.

About iPath Series B S&P 500 VIX Short-Term Futures ETN

The iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) is an exchange-traded fund that is based on the S&P 500 VIX Short-Term Futures index. The fund tracks an index with exposure to futures contracts on the CBOE Volatility Index with average one-month maturity. Exposure resets daily. VXX was launched on Jan 19, 2018 and is issued by iPath.