ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) Trading 12% Higher – Still a Buy?

Shares of ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) were up 12% on Wednesday . The stock traded as high as $51.1095 and last traded at $54.8670. Approximately 1,367,457 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 1,948,471 shares. The stock had previously closed at $49.01.

ProShares Short VIX Short-Term Futures ETF Trading Up 12.0%

The business’s 50-day simple moving average is $52.65 and its 200-day simple moving average is $49.67.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SVXY. Spire Wealth Management acquired a new position in ProShares Short VIX Short-Term Futures ETF during the fourth quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new position in shares of ProShares Short VIX Short-Term Futures ETF in the 2nd quarter valued at approximately $33,000. JPMorgan Chase & Co. bought a new stake in ProShares Short VIX Short-Term Futures ETF during the 3rd quarter worth approximately $201,000. Sig Brokerage LP acquired a new stake in ProShares Short VIX Short-Term Futures ETF during the 3rd quarter worth approximately $229,000. Finally, Belpointe Asset Management LLC bought a new position in ProShares Short VIX Short-Term Futures ETF in the third quarter valued at approximately $327,000.

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.