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

2x Long VIX Futures ETF (BATS:UVIX) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 12,982,096 shares, a decrease of 34.2% from the May 14th total of 19,724,861 shares. Based on an average daily trading volume, of 50,846,731 shares, the days-to-cover ratio is presently 0.3 days. Currently, 65.4% of the company’s stock are sold short.

Hedge Funds Weigh In On 2x Long VIX Futures ETF

Several institutional investors have recently made changes to their positions in UVIX. FirstWave Capital Management LLC bought a new position in shares of 2x Long VIX Futures ETF during the fourth quarter valued at approximately $5,031,000. Hamilton Wealth LLC bought a new position in shares of 2x Long VIX Futures ETF during the first quarter valued at approximately $7,570,000. Brookstone Capital Management bought a new position in shares of 2x Long VIX Futures ETF during the first quarter valued at approximately $1,399,000. Cavalier Investments LLC bought a new position in shares of 2x Long VIX Futures ETF during the third quarter valued at approximately $1,225,000. Finally, Mach 1 Financial Group LLC bought a new position in shares of 2x Long VIX Futures ETF during the fourth quarter valued at approximately $452,000.

2x Long VIX Futures ETF Stock Performance

Shares of BATS UVIX opened at $3.28 on Tuesday. The stock’s 50 day moving average price is $5.19 and its two-hundred day moving average price is $6.29. 2x Long VIX Futures ETF has a 52-week low of $3.27 and a 52-week high of $30.19.

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.