-1x Short VIX Futures ETF (BATS:SVIX) Trading Down 6.7% – Here’s Why

-1x Short VIX Futures ETF (BATS:SVIX) dropped 6.7% on Friday . The stock traded as low as $20.94 and last traded at $21.42. Approximately 4,345,027 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 5,173,215 shares. The stock had previously closed at $22.97.

-1x Short VIX Futures ETF Trading Down 6.7%

The business’s fifty day simple moving average is $19.03 and its 200 day simple moving average is $20.51.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jump Financial LLC raised its stake in -1x Short VIX Futures ETF by 467.8% during the 4th quarter. Jump Financial LLC now owns 132,393 shares of the company’s stock worth $3,208,000 after buying an additional 109,078 shares during the period. Ramsey Quantitative Systems acquired a new stake in shares of -1x Short VIX Futures ETF in the 1st quarter valued at about $1,156,000. Finally, JPMorgan Chase & Co. raised its stake in shares of -1x Short VIX Futures ETF by 38.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,421 shares of the company’s stock valued at $522,000 after purchasing an additional 6,838 shares during the period.

About -1x Short VIX Futures ETF

The -1x Short VIX Futures ETF (SVIX) is an exchange-traded fund that is based on the Short VIX Futures index. The fund tracks an index that provides daily inverse exposure to a portfolio comprising first- and second-month VIX futures positions with a weighted average maturity of one month. SVIX was launched on Mar 30, 2022 and is managed by Volatility Shares.