2x Long VIX Futures ETF (BATS:UVIX) Shares Up 11.6% – Time to Buy?

2x Long VIX Futures ETF (BATS:UVIX)’s stock price shot up 11.6% during trading 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 Down 9.4%

The company’s 50 day simple moving average is $5.29 and its 200 day simple moving average is $6.37.

Institutional Investors Weigh In On 2x Long VIX Futures ETF

Several large investors have recently bought and sold shares of the company. FirstWave Capital Management LLC bought a new stake in shares of 2x Long VIX Futures ETF during the fourth quarter worth $5,031,000. Hamilton Wealth LLC bought a new stake in shares of 2x Long VIX Futures ETF during the first quarter worth $7,570,000. Brookstone Capital Management bought a new stake in shares of 2x Long VIX Futures ETF during the first quarter worth $1,399,000. Cavalier Investments LLC bought a new stake in shares of 2x Long VIX Futures ETF during the third quarter worth $1,225,000. Finally, Mach 1 Financial Group LLC bought a new stake in shares of 2x Long VIX Futures ETF during the fourth quarter worth $452,000.

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.