2x Long VIX Futures ETF (BATS:UVIX) Sees Large Drop in Short Interest

2x Long VIX Futures ETF (BATS:UVIX) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 967,088 shares, a drop of 93.0% from the June 30th total of 13,837,271 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily volume of 1,306,885 shares, the days-to-cover ratio is currently 0.7 days.

2x Long VIX Futures ETF Price Performance

UVIX stock opened at $62.05 on Friday. 2x Long VIX Futures ETF has a one year low of $54.59 and a one year high of $417.80. The firm has a 50 day simple moving average of $71.75 and a two-hundred day simple moving average of $109.61.

Institutional Trading of 2x Long VIX Futures ETF

A number of hedge funds have recently made changes to their positions in the stock. FirstWave Capital Management LLC purchased a new position in 2x Long VIX Futures ETF in the fourth quarter worth $5,031,000. Hamilton Wealth LLC purchased a new stake in 2x Long VIX Futures ETF during the first quarter valued at about $7,570,000. Brookstone Capital Management bought a new stake in 2x Long VIX Futures ETF during the first quarter worth about $1,399,000. Ramsey Quantitative Systems bought a new stake in 2x Long VIX Futures ETF during the second quarter worth about $334,000. Finally, Mach 1 Financial Group LLC purchased a new position in shares of 2x Long VIX Futures ETF in the 4th quarter worth about $452,000.

About 2x Long VIX Futures ETF

The 2x Long VIX Futures ETF (UVIX) is an exchange-traded fund that is based on the Long VIX Futures index. The fund tracks an index that provides 2x daily leveraged exposure to a portfolio comprising first- and second-month VIX futures positions with a weighted average maturity of one month. UVIX was launched on Mar 28, 2022 and is managed by Volatility Shares.