2x Long VIX Futures ETF (BATS:UVIX) Share Price Breaks Below Fifty Day Moving Average – Should You Sell?

Shares of 2x Long VIX Futures ETF (BATS:UVIX) crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $37.99 and traded as low as $37.43. 2x Long VIX Futures ETF shares last traded at $37.61, with a volume of 5,302,168 shares traded.

2x Long VIX Futures ETF Stock Down 27.2%

The firm has a fifty day moving average of $37.99 and a 200 day moving average of $84.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hamilton Wealth LLC acquired a new position in shares of 2x Long VIX Futures ETF during the 1st quarter worth about $7,570,000. Clough Capital Partners L P purchased a new stake in 2x Long VIX Futures ETF during the first quarter worth approximately $623,000. Ramsey Quantitative Systems acquired a new position in 2x Long VIX Futures ETF in the second quarter valued at approximately $334,000. Finally, Independent Financial Group LLC acquired a new position in 2x Long VIX Futures ETF in the first quarter valued at approximately $216,000.

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.