Seeking Alpha

ProShares VIX Mid-Term Futures ETF (VIXM)

  • May. 21, 2014, 10:32 AM
    • Bets on a decline in the iPath S&P 500 VIX Short-Term Futures ETN (VXX -1%) have fallen to 25% of shares outstanding from a record 126% in February, according to Bloomberg. Shorting the VXX is a play on continued calm in the markets, and a bet (along with other short volatility moves) that earned plenty of coin in 2013.
    • The VIX jumped 4.4% yesterday as stocks struggled, but has closed below 15 for 24 consecutive sessions, the longest streak since about the time surrounding the start of 2014. It hasn't climbed above 18 since February even amid Russian tension and sizable selloffs in small caps and tech momentum names.
    • “The longer you go without a hurricane, the more likely it becomes for the next period,” says Mark Yusko, CIO at Morgan Creek Capital. “It’s usually around those times, when everybody is convinced nothing can happen, that something happens. Markets tend to move to extremes. Those alligator jaws don’t stay open forever. They eventually snap shut.”
  • Mar. 3, 2014, 3:05 PM
  • Dec. 31, 2012, 3:41 PM
    The apparent movement towards a deal has the VIX plunging 19%, one of its biggest single-day implosions in years (and that's saying something). The "fear gauge" had made a big move higher since mid-December as traders bet on a D.C. agreement not being reached. Other big moves: August 2011, -27%, May 2010 -30%. VXX -10.1%.
  • Dec. 27, 2012, 5:46 PM
    After-hours top gainers, as of 5:15 p.m.: MEG +14%. DIOD +4%. AKS +2%. AVEO +2%. VIXM +2%.
    After-hours top losers: NGL -4%. MHO -3%. KRO -3%. ERII -2%. TVIX -2%.
    | Comment!
  • Mar. 26, 2012, 9:33 AM
    "TVIX only $6.50 above fair value," tweets a wise guy as shares in the leveraged ETN are hammered again this morning, -8.4% to $6.56, bringing the decline to 55% in less than 3 days. ETN prices can vary widely from NAV, leading to excessively high premiums when shares become dear, and then the correction when the issuer prints up more.
  • Mar. 23, 2012, 7:16 AM
    Credit Suisse will restart issuance of TVIX ETN units today. It was the suspension of such last month that led to the units massive premium to NAV, much, but not all of which melted away yesterday - no doubt because the market expected today's announcement. TVIX -16% premarket.
  • Mar. 12, 2012, 10:34 AM
    After a quick move higher on Tuesday's sell off, the VIX (VXX -2.6%) dives to its lowest level in a year, as calm (complacency?) reigns. John Spence notes investors cancelling insurance policies for market pullbacks by pulling cash from volatility-linked ETFs
  • Jul. 5, 2011, 3:43 PM
    VIX +1.2% on market concerns today, but it remains at a relatively subdued level and is down 50% since November. Declining volatility led Barclay's (BCS) -2.3%) to close its own VIX ETN after it fell below $10. The moral according to Schaeffer Investment Research is to avoid volatility ETNs.
    | 1 Comment
  • Apr. 15, 2011, 10:37 AM
    It's been a long road back, but the VIX, sinking again today, has returned to its lowest level since July 2007. VXX -0.8%.
Visit Seeking Alpha's
VIXM vs. ETF Alternatives
VIXM Description
ProShares VIX Mid-Term Futures ETF seeks to provide investment results (before fees and expenses) that match the performance of the S&P 500 VIX Mid-Term Futures Index. The CBOE Volatility Index® (VIX) is a widely followed measure of the expected volatility of the S&P 500. Since the VIX is not directly investable, S&P 500 volatility exposure is often achieved through VIX futures. Each of the VIX futures indexes measures the movements of a combination of VIX futures and is designed to track changes in the expectation for VIX over a specific time window in the future. As a result, the S&P 500 VIX Mid-Term Futures Index and VIXM can be expected to perform differently than the VIX.
See more details on sponsor's website
Country: United States
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub