2x Long VIX Futures ETF (BATS:UVIX) Trading Up 11.6% – Still a Buy?

2x Long VIX Futures ETF (BATS:UVIX)’s share price traded up 11.6% on Wednesday . The stock traded as high as $4.70 and last traded at $4.61. 94,232,093 shares were traded during mid-day trading, an increase of 86% from the average session volume of 50,549,719 shares. The stock had previously closed at $4.13.

2x Long VIX Futures ETF Stock Up 11.6%

The company’s fifty day simple moving average is $5.47 and its two-hundred day simple moving average is $6.45.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UVIX. Clough Capital Partners L P raised its holdings in 2x Long VIX Futures ETF by 326.2% in the 2nd quarter. Clough Capital Partners L P now owns 53,275 shares of the company’s stock valued at $1,195,000 after acquiring an additional 40,775 shares during the period. Two Sigma Securities LLC raised its holdings in 2x Long VIX Futures ETF by 76.9% in the 2nd quarter. Two Sigma Securities LLC now owns 15,726 shares of the company’s stock valued at $353,000 after acquiring an additional 6,838 shares during the period. Evernest Financial Advisors LLC bought a new position in shares of 2x Long VIX Futures ETF during the third quarter worth approximately $298,000. FreeGulliver LLC bought a new position in shares of 2x Long VIX Futures ETF during the third quarter worth approximately $179,000. Finally, Cavalier Investments LLC bought a new position in shares of 2x Long VIX Futures ETF during the third quarter worth approximately $1,225,000.

2x Long VIX Futures ETF Company Profile

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.