ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) Stock Price Up 13% – Still a Buy?

Shares of ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) shot up 13% during trading on Monday . The stock traded as high as $51.1095 and last traded at $55.38. 1,367,457 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 1,948,471 shares. The stock had previously closed at $49.01.

ProShares Short VIX Short-Term Futures ETF Stock Up 13.2%

The company’s fifty day simple moving average is $50.97 and its 200-day simple moving average is $48.24.

Institutional Investors Weigh In On ProShares Short VIX Short-Term Futures ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in ProShares Short VIX Short-Term Futures ETF in the 2nd quarter valued at $33,000. Spire Wealth Management bought a new position in shares of ProShares Short VIX Short-Term Futures ETF during the second quarter valued at $115,000. JPMorgan Chase & Co. bought a new position in shares of ProShares Short VIX Short-Term Futures ETF during the third quarter valued at $201,000. Sig Brokerage LP acquired a new stake in shares of ProShares Short VIX Short-Term Futures ETF in the 3rd quarter valued at $229,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of ProShares Short VIX Short-Term Futures ETF in the 3rd quarter worth about $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.