VIX ETN sets reverse split

|By:, SA News Editor

Absent a major market selloff, the natural resting place of the iPath S&P VIX Short-term Futures ETN (VXX -1%) is zero. As the traders who frequent the product aren't fond of trading a security so low in price, reverse splits are an occasional necessity. The latest one, a 1-for-4 reverse split, will take place after Thursday's close.

The VXX is off 61% YTD.