ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) Stock Price Down 1.6% – Should You Sell?

ProShares Short VIX Short-Term Futures ETF (BATS:SVXY) shares dropped 1.6% during trading on Wednesday. The company traded as low as $63.95 and last traded at $64.41. 2,625,588 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 1,837,897 shares. The stock had previously closed at $65.45.

ProShares Short VIX Short-Term Futures ETF Stock Performance

The firm’s fifty day moving average price is $62.76 and its two-hundred day moving average price is $56.75.

Hedge Funds Weigh In On ProShares Short VIX Short-Term Futures ETF

A number of large investors have recently added to or reduced their stakes in SVXY. DV Trading LLC increased its stake in shares of ProShares Short VIX Short-Term Futures ETF by 182.5% during the 1st quarter. DV Trading LLC now owns 14,380 shares of the company’s stock worth $659,000 after purchasing an additional 9,289 shares in the last quarter. Clare Market Investments LLC acquired a new stake in shares of ProShares Short VIX Short-Term Futures ETF during the 1st quarter worth about $572,000. Finally, Ramsey Quantitative Systems grew its holdings in shares of ProShares Short VIX Short-Term Futures ETF by 53.2% during the first quarter. Ramsey Quantitative Systems now owns 38,475 shares of the company’s stock worth $1,762,000 after buying an additional 13,355 shares in the last quarter.

About ProShares Short VIX Short-Term Futures ETF

The ProShares Short VIX Short-Term Futures ETF (SVXY) is an exchange-traded fund that is based on the S&P 500 VIX Short-Term Futures index. The fund provides inverse exposure to an index comprising first- and second-month VIX future positions resulting in a weighted average maturity of one month. SVXY was launched on Oct 3, 2011 and is managed by ProShares.