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

-1x Short VIX Futures ETF (BATS:SVIX) shares dropped 6.7% on Friday . The stock traded as low as $20.94 and last traded at $21.42. Approximately 4,345,027 shares changed hands 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 Stock Performance

The company has a 50 day moving average of $19.03 and a 200 day moving average of $20.51.

Institutional Investors Weigh In On -1x Short VIX Futures ETF

A number of hedge funds have recently modified their holdings of the business. Ramsey Quantitative Systems acquired a new stake in shares of -1x Short VIX Futures ETF during the first quarter worth about $1,156,000. Jump Financial LLC raised its position in shares of -1x Short VIX Futures ETF by 467.8% during the fourth quarter. Jump Financial LLC now owns 132,393 shares of the company’s stock worth $3,208,000 after purchasing an additional 109,078 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of -1x Short VIX Futures ETF by 38.9% during the third quarter. JPMorgan Chase & Co. now owns 24,421 shares of the company’s stock worth $522,000 after purchasing an additional 6,838 shares during the period.

-1x Short VIX Futures ETF Company Profile

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.