2x Long VIX Futures ETF (BATS:UVIX) Sets New 12-Month Low – Time to Sell?

2x Long VIX Futures ETF (BATS:UVIX) reached a new 52-week low during trading on Monday . The company traded as low as $39.41 and last traded at $39.46, with a volume of 1564739 shares changing hands. The stock had previously closed at $40.83.

2x Long VIX Futures ETF Stock Performance

The company’s 50 day simple moving average is $54.69 and its two-hundred day simple moving average is $97.28.

Hedge Funds Weigh In On 2x Long VIX Futures ETF

A number of hedge funds have recently made changes to their positions in the stock. Mariner LLC purchased a new stake in 2x Long VIX Futures ETF in the fourth quarter valued at approximately $86,000. StoneX Group Inc. purchased a new position in shares of 2x Long VIX Futures ETF during the fourth quarter worth $130,000. Barclays PLC boosted its position in shares of 2x Long VIX Futures ETF by 148.5% during the fourth quarter. Barclays PLC now owns 33,470 shares of the company’s stock worth $191,000 after buying an additional 20,000 shares during the period. Independent Financial Group LLC acquired a new stake in shares of 2x Long VIX Futures ETF in the first quarter valued at $216,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in shares of 2x Long VIX Futures ETF in the first quarter valued at $262,000.

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.