ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) Trading Up 0.7% – Still a Buy?

ProShares Short VIX Short-Term Futures ETF (BATS:SVXY)’s share price were up 0.7% during trading on Friday . The stock traded as high as $50.96 and last traded at $50.45. Approximately 1,420,427 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 2,668,080 shares. The stock had previously closed at $50.11.

ProShares Short VIX Short-Term Futures ETF Stock Up 0.7%

The firm has a 50 day moving average of $49.39 and a 200 day moving average of $51.01.

Hedge Funds Weigh In On ProShares Short VIX Short-Term Futures ETF

Several institutional investors have recently bought and sold shares of SVXY. Ramsey Quantitative Systems purchased a new stake in shares of ProShares Short VIX Short-Term Futures ETF during the fourth quarter worth $1,391,000. QVR LLC lifted its position in shares of ProShares Short VIX Short-Term Futures ETF by 8.7% during the fourth quarter. QVR LLC now owns 25,001 shares of the company’s stock worth $1,385,000 after acquiring an additional 2,000 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of ProShares Short VIX Short-Term Futures ETF during the second quarter worth $33,000. JPMorgan Chase & Co. purchased a new stake in shares of ProShares Short VIX Short-Term Futures ETF during the third quarter worth $201,000. Finally, Jump Financial LLC purchased a new stake in shares of ProShares Short VIX Short-Term Futures ETF during the second quarter worth $1,116,000.

About ProShares Short VIX Short-Term Futures ETF

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.