-1x Short VIX Futures ETF (BATS:SVIX) Shares Down 5.9% – Time to Sell?

-1x Short VIX Futures ETF (BATS:SVIX)’s share price was down 5.9% during mid-day trading on Thursday . The company traded as low as $21.22 and last traded at $21.32. Approximately 8,397,117 shares were traded during mid-day trading, an increase of 118% from the average daily volume of 3,855,220 shares. The stock had previously closed at $22.66.

-1x Short VIX Futures ETF Trading Down 5.9%

The stock’s 50-day simple moving average is $23.17 and its two-hundred day simple moving average is $20.84.

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

Several institutional investors have recently bought and sold shares of SVIX. Jump Financial LLC purchased a new stake in -1x Short VIX Futures ETF during the 2nd quarter worth approximately $6,387,000. JPMorgan Chase & Co. boosted its stake in shares of -1x Short VIX Futures ETF by 38.9% in the third quarter. JPMorgan Chase & Co. now owns 24,421 shares of the company’s stock worth $522,000 after acquiring an additional 6,838 shares during the last quarter. Finally, Flow Traders U.S. LLC boosted its stake in shares of -1x Short VIX Futures ETF by 19.5% in the second quarter. Flow Traders U.S. LLC now owns 91,537 shares of the company’s stock worth $1,420,000 after acquiring an additional 14,957 shares during the last quarter.

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.