ProShares VIX Mid-Term Futures ETF

Small caps and growth stocks are out and utilities and energy stocks are back in following a surprise inflation reading that has sent U.S. equity markets plunging on Tuesday. Such was the turmoil, that the CBOE VIX Volatility Index, the so-called Wall Street fear gauge, spiked from around 13.9 to 17.9 — a 28% jump — hitting its highest level since Nov. 1. It ended the day at 15.85. “At present, this increase is the biggest jump since March 9th and the volatility index stands at over a three-month high. And yet, these are still very low levels of overall implied volatility,” said analyst John Kicklighter on X. The ProShares Vix Mid-Term Futures ETF (NYSE:VIXM), an exchange traded fund which aims to track the VIX Index, jumped 2.2% to $16.37 on Tuesday, but was down 1.6% in pre-market trading on Wednesday. Also Read: Market Correction Due: Stocks Are Running Out Of Reasons To Move Higher, Analyst ...Full story available on Benzinga.com

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Equity markets are having a bumpy ride so far in 2024, and Tuesday was the worst day yet, with weaker sentiment underlined on Wednesday by a move on Wall Street’s “fear gauge” to a two-month high. The CBOE VIX volatility index jumped 4.8% to 14.5 on Wednesday ahead of the market open. The ProShares VIX Mid-Term Futures ETF (NYSE:VIXM), an exchange traded fund that attempts to mirror the performance of the volatility index, was up 2.4% on Wednesday at 16.39. While 14.5 isn’t historically high, it is significant in being the highest reading since Nov. 14, 2023, when the index was dropping sharply from levels above 20. A VIX above 20 is seen as a level indicating “fearful” market conditions, marked by volatility and downside pressure on equities. When the VIX was last above 20 on Oct. 30, it was at the start of a sharp two-month downturn that coincided with strong gains on global equity markets. As the VIX tumbled from around 21 in late October to around 12 in December, the S&P 500 index put on 16%, as did the main ETF that tracks it — the SPDR S&P 500 ETF Trust (NYSE:SPY). Also Read: Full story available on Benzinga.com

Related tickers: GLD, IWM, SPY, VIXM.