iPath Series B S&P 500 VIX Short-Term Futures ETN 株価情報 (BATS: VXX)

最新ニュース iPath Series B S&P 500 VIX Short-Term Futures ETN (BATS:VXX) 株価情報

iPath S&P 500 VIX Short Term Futures TM ETN

iPath Series B S&P 500 VIX Short-Term Futures ETN

The stock market just got a fresh jolt of turbulence, and traders are buckling up for more. Monday's rollercoaster session saw the S&amp;P 500 index wipe out a staggering $1.5 trillion in value as trade war fears reignited. 
ETFs tracking the index closed lower: the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed lower by 1.75% while the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) were down 1.72% on Monday close.
Related: <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a>
With tariffs on Canada, Mexico and China ramping up, volatility is officially back in business. The VIX has surged over 33% over the past month:
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="696" height="449" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04062926/Screenshot-2025-03-04-at-4.59.09-PM.png" alt="" class="wp-image-807881" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04062926/Screenshot-2025-03-04-at-4.59.09-PM.png 696w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04062926/Screenshot-2025-03-04-at-4.59.09-PM-300x194.png 300w" sizes="(max-width: 696px) 100vw, 696px" /></figure>
Chart source: <a href="https://www.google.com/finance/quote/VIX:INDEXCBOE?sa=X&amp;ved=2ahUKEwiiwuP0qPCLAxV0Q2cHHSTZBhcQ3ecFegQIMhAX&amp;window=1M">Google Finance</a>
But for investors, chaos breeds opportunity &#8211; if you know how to play it.
<h2 class="wp-block-heading">1. The VIX Is Screaming &#8211; Use It</h2>
The Cboe Volatility Index ($VIX) is Wall Street's fear gauge, and when it spikes, traders take notice. With uncertainty surging, options-based strategies become lucrative. 
Investors can hedge against further market swings with the ProShares Ultra VIX Short-Term Futures ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/UVXY#BATS">UVXY</a>) or the iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VXX#BATS">VXX</a>). 
But beware—these are short-term tools, not long-term holds.
<h2 class="wp-block-heading">2. Play Defense With Broad Market ETFs</h2>
When markets get rocky, smart money often rotates into low-volatility and defensive plays. 
The Invesco S&amp;P 500 Low Volatility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPLV#NYSE">SPLV</a>) offers exposure to less turbulent stocks, while the iShares MSCI USA Minimum Volatility ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/USMV#BATS">USMV</a>) helps cushion the downside. 
For those who expect more fireworks but want to stay long equities, the SPY remains a solid way to ride out the storm.
<h2 class="wp-block-heading">3. Don't Fight The Tape &#8211; Trade Trends</h2>
With uncertainty swirling, trend-following strategies gain an edge. Investors looking for short-term gains might consider the ProShares Short S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SH#NYSE">SH</a>) for bearish exposure or the ProShares UltraPro Short S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXU#NYSE">SPXU</a>) for amplified downside bets. 
Meanwhile, gold, often a safe-haven asset, is seeing renewed interest through ETFs like SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).
With Trump hinting at more "big" announcements by Wednesday night, expect the volatility train to keep rolling. The question isn't whether markets will move &#8211; it's whether you're ready to trade the storm.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/bonds/25/03/44096578/leon-cooperman-says-he-likes-cash-calls-trumps-deficit-cutting-contractionary">Leon Cooperman Says He Likes Cash, Calls Trump&#8217;s Deficit Cutting &#8216;Contractionary&#8217;</a></li>
</ul>
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SPLV

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UVXY

Barclays Bank iPath S&P 500 VIX Short-Term Futures ETN

Tariffs, Trump, Tumult: How To Trade The Volatility Surge

President Donald Trump is back in the Oval Office, and his Day 1 flurry of executive orders suggests a busy and eventful <a href="https://www.benzinga.com/topic/donald-trump">first 100 days ahead.</a>
JPMorgan analysts Joyce Chang and Amy Ho warn that markets have yet to price in the full impact of Trump's aggressive trade stance, regulatory shake-ups, and expansionist ambitions. 
Investors betting on a repeat of Trump's first term should buckle up—this time, the playbook looks bolder.
<h2 class="wp-block-heading">Tariff Tensions: A Trade War Ahead?</h2>
Trump quickly signaled a renewed focus on trade policy, emphasizing his commitment to overhauling the U.S. trade system in his inauguration speech.
Immediate tariffs didn't make the Day 1 cut, but they're looming. The threat of tariffs on <a href="https://www.benzinga.com/25/01/43103527/mexican-peso-canadian-dollar-slide-as-trump-threatens-25-tariffs-expert-eyes-price-hikes-on-typical-us-breakfast">Mexico</a> and <a href="https://www.benzinga.com/etfs/emerging-market-etfs/25/01/43130930/trump-looking-at-10-tariff-on-china-starting-feb-1">Canada</a>—first floated last November—could become reality as early as Feb. 1. 
JPMorgan warns that Trump's team could be eyeing a gradual escalation strategy, hiking tariffs by 2% to 5% per month. With Stephen Miran, Trump's pick for Council of Economic Advisors chair, advocating for a 20% optimal tariff rate, markets may be underestimating the inflationary shock ahead, the analysts say.
Read Also: <a href="https://www.benzinga.com/news/25/01/43150451/jamie-dimo-supports-trumps-tariffs-if-its-a-little-inflationary-but-its-good-for-national-security-so-be-it">Jamie Dimon Supports Trump&#8217;s Tariffs: &#8216;If It&#8217;s A Little Inflationary, But It&#8217;s Good For National Security, So Be It&#8217;</a>
<h2 class="wp-block-heading">Red Tape Revisited: Deregulation Or Mere Reshuffle?</h2>
While businesses cheered Trump's push for regulatory efficiency, JPMorgan suggests it's more of a reshuffle than an outright deregulation spree. 
Basel III reforms and non-bank regulations aren't likely to advance, but the analysts expect faster approvals for M&amp;A deals. Trump's renewed exit from the Paris Agreement reflects his administration's focus on reducing climate-related capital constraints, according to the analysts.
But with a Republican-led Congress still facing hurdles on tax reform, any sweeping economic overhaul remains a tough sell.
<h2 class="wp-block-heading">America First-And Maybe A Bit Bigger?</h2>
Foreign policy under Trump 2.0 appears to focus on economic assertiveness and strategic territorial considerations.
JPMorgan highlights his focus on Mexico, <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">Canada</a>, <a href="https://www.benzinga.com/startups/25/01/43074027/why-trump-sees-greenland-as-a-2-billion-security-deal">Greenland</a>, and the <a href="https://www.benzinga.com/startups/25/01/43036986/trumps-2-5-billion-power-play-what-seizing-the-panama-canal-would-cost">Panama Canal</a>—suggesting strategic interests that may influence global markets.
While Trump has downplayed the idea of military action, his firm stance on China and Russia suggests economic and strategic priorities will take center stage.
<h2 class="wp-block-heading">The Verdict: Buckle Up For Policy Uncertainty</h2>
Markets prefer certainty, but Trump's second term introduces potential challenges and uncertainties.
JPMorgan's analysts note that Trump's signature &#8220;escalate-to-de-escalate&#8221; strategy could keep investors on edge.
While the stock market benefits from easy financial conditions, Trump&#8217;s return introduces the potential for increased volatility, with tariff increases and geopolitical shifts adding to investor uncertainty.
The iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VXX#BATS">VXX</a>) and the ProShares Trust VIX Short-Term Futures ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VIXY#BATS">VIXY</a>) are to funds that seek to profit from volatility.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/43156850/wto-chief-says-everyone-will-pay-if-tit-for-tat-trade-war-breaks-out-amid-trumps-tariff-threat-leading-to-double-digit-global-gdp-losses">WTO Chief Says &#8216;Everyone Will Pay&#8217; If &#8216;Tit-For-Tat&#8217; Trade War Breaks Out Amid Trump&#8217;s Tariff Threat, Leading To Double-Digit Global GDP Losses</a></li>
</ul>
Photo: Shutterstock

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Government

Regulations

Politics

Analyst Ratings

VIXY

Trump's Second Term Sparks Market Jitters With Trade, Regulation, Expansion Plans

Investors, brace yourselves for the rollercoaster that is September and October. But before hitting the panic button, BlackRock managing director Gargi Pal Chaudhuri offers reassurance, urging that investors not be alarmed by near-term volatility in <a href="https://www.benzinga.com/topic/volatility">U.S. equity markets</a>.
In a recent CNBC <a href="https://www.cnbctv18.com/market/brace-for-us-equity-volatility-near-term-but-dont-panic-says-global-market-expert-19471286.htm">interview</a>, Chaudhuri — Head of BlackRock&#8217;s iShares Investment Strategy-Americas — emphasized that whether it's small-cap stocks, large-caps, or the tech sector, "these months tend to be <a href="https://www.benzinga.com/24/09/40676774/september-market-seasonality-why-this-month-is-historically-the-toughest-for-investors">seasonally volatile</a>, a trend observed over the past decade.&#8221;
We looked into the past trend for validation.
<h2 class="wp-block-heading">Seasonal Market Swings: A Recurring Phenomenon</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="349" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05045124/fredgraph-1024x349.png" alt="" class="wp-image-531330" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05045124/fredgraph-1024x349.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05045124/fredgraph-300x102.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05045124/fredgraph-768x262.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05045124/fredgraph.png 1320w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Above is the graph of the CBOE Volatility Index, also known as, VIX — over the past decade. It can be observed, that the index tends to gain strength during these two months Chaudhuri mentioned (taking into account that the extremely high wave in 2020 is accountable to Covid).
Investors who track market volatility often tend to book gains through its swings via ETFs such as the iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VXX#NYSE">VXX</a>) or the ProShares VIX Short-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIXY#NYSE">VIXY</a>)
Chaudhuri also mentioned that this year, the uncertainty around the upcoming U.S. election adds to the already jittery markets, creating more potential for fluctuations.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40345324/institutional-investors-buy-the-dip-after-august-volatility-spike-wall-street-analy">Institutional Investors Buy The Dip After August Volatility Spike: Wall Street Analyst</a>
<h2 class="wp-block-heading">Medium- To Long-Term? Still Bright</h2>
Despite the near-term uncertainty, Chaudhuri remains upbeat about the medium- to long-term outlook for U.S. equities. She believes high-quality stocks are poised to perform well over the next six to twelve months, especially as the Federal Reserve is expected to begin cutting interest rates.
Chaudhuri stated, "Historically, rate cuts have benefited both stocks and bonds," adding that she expects the Fed to start normalizing interest rates later this month with a 25-basis point cut.
<h2 class="wp-block-heading">India: The Emerging Market Opportunity</h2>
But Chaudhuri's focus isn't solely on the U.S. With India's growing influence on the global stage, she believes foreign investors should reconsider their current underweight positions. 
"I think investors need to at least get back to benchmark weights with respect to emerging markets (EMs) and with respect to India specifically. And I think that is the opportunity," she said.
While India's market valuations are on the higher end, Chaudhuri noted that "this is not just about valuations." India's economic potential and its increasing importance make it a key area for future growth.
Popular ETFs tracking Indian equity include the iShares MSCI India ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INDA#NYSE">INDA</a>), the WisdomTree India Earnings Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPI#NYSE">EPI</a>) and the Franklin FTSE India ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLIN#NYSE">FLIN</a>)
Overall, Chaudhuri's message is clear: ride out the short-term volatility and stay focused on the long-term opportunities.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/bonds/24/08/40484619/from-stocks-to-bonds-cboes-vixtlt-index-adds-new-twist-to-volatility">From Stocks To Bonds: CBOE&#8217;s VIXTLT Index Adds New Twist To Volatility</a></li>
</ul>

Emerging Market ETFs

FLIN

INDA

BlackRock Strategist On Market Jitters: Expect Volatility, But Stay Positive On US Equities And This Emerging Market

Iran launched a barrage of explosive drones and missiles towards Israel late on Saturday in its first direct attack on Israeli soil, prompting concerns of a significant escalation. Sirens blared in Israel, as reported by Reuters, and distant booming sounds were heard, likely from the interception of the drones.
Israel said it identified 300 &quot;threats of various types&quot; and eliminated &quot;99%&quot; of those bound for Israeli soil, according to an update from an Israel Defense Forces spokesperson, as quoted on CNBC. Iran&#39;s Revolutionary Guards seized a cargo ship in the Strait of Hormuz on Saturday, saying the vessel, associated with Israel, prompted heightened alert levels due to the possibility of a direct Iranian attack,
This could escalate a decades-old standoff between the two regional adversaries. Notably, the Gaza war between Israel and Hamas, now entering its seventh month, has heightened tensions in the region, extending to conflicts with Lebanon and Syria. Additionally, long-range attacks targeting Israeli interests have originated from Yemen and Iraq.
<h3>Market Impact</h3>
Investors are likely to take this clash seriously and rush toward fear-induced selling. The sudden rise of chaos in the market brightened the appeal for safe haven assets. Volatility ETFs which track the implied volatility of the market also surged thanks to the massacre in the stock market. iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>) has added about 4.2% past week and rose 8.8% on Friday and advanced about 1% after hours on Apr 12.
Below, we highlight a few of the biggest gainers from the latest sell-off in the stock market. Also, these ETFs may continue to shine should tensions persist in the global economy in the near term.
<h3>Gold</h3>
Gold is often viewed as a hedge against market risk. The metal has seen some strength lately thanks to this market turmoil. Gold bullion ETF SPDR Gold Trust (ARCA:GLD) has gained 0.4% in the past five days. It added 0.14% in after hours on Apr 12.
<h3>Long-Term U.S. Treasury</h3>
U.S. 10-year benchmark treasury yield slumped to 4.50% on Apr 12, 2024, down from 4.56% recorded on Apr 11 despite talks of higher-for-longer rates due to rise in volatility in the markets. Notably, U.S. Treasuries are also perceived as risk-free asset class which is why iShares Barclays 20 Year Treasury Bond Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlt#NASDAQ">TLT</a>) and iShares Barclays 7-10 Year Treasury Bond Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ief#NASDAQ">IEF</a>) added about 0.5% and 0.4% on Apr 12, 2024.
<h3>U.S. Dollar</h3>
The U.S. dollar is often viewed as a safe haven currency due to their strong liquidity and stable political systems. With the Fed likely to keep rates higher for longer due to sticky inflation, the U.S. dollar is likely to remain strong over the medium term. Invesco DB US Dollar Index Bullish Fund (ARCA:UUP) can thus be played here.
<h3>Bottom Line</h3>
Although we do not expect this bearish trend to continue for long especially in the United States, which has a strong trend underneath, the upheaval in the stock market may persist for a week or so courtesy of the gloomy global backdrop and an oil price rally (due to crisis in the oil-rich Middle East). However, as the earnings season unfolds, this fluffy market should take a solid shape and decide on the fate of several asset classes and sectors.
<a href="https://www.zacks.com/stock/news/2255601/3-safe-haven-etfs-to-gain-on-middle-east-crisis?cid=CS-BENZ-FT-etf_news_and_commentary-2255601">To read this article on Zacks.com click here.</a>

News

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iShares Trust Barclays 7-10 Year Treasury Bond Fund

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PowerShares DB US Dollar Index Bullish Fund

3 Safe-Haven ETFs to Gain on Middle East Crisis

We performed a screening of mid-cap ETFs - defined as having Assets Under Management (AUM) between $400 million and $2 billion - to determine what funds had the largest change in net assets on the week, according to data from <a href="http://etfdb.com">etfdb.com</a>. Only non-leveraged funds were considered.&nbsp;
<h2>Winners</h2>
Invesco BuyBack Achievers ETF (NYSEARCA: PKW)
PKW added $310.20 million in AUM over the trailing week.
The Invesco BuyBack Achievers ETF invests in companies that have bought back a significant amount of stock - above 5%. The philosophy is that this will increase the stock's value through a more limited supply.
The fund has $1.79 billion in AUM and an expense ratio of 0.64%. EMXC has holdings in 315 companies, with the 10 largest comprising 35.05% of the fund.
The fund&rsquo;s largest holdings are Comcast Corporation Class A (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>) and ConocoPhillips (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cop#NYSE">COP</a>) making up 5.40% and 4.41% of the fund, respectively.
PKW has added $204 million in AUM YTD.
iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>)
VXX is up $63.85 million in AUM over the trailing week.
The Fund provides exposure to market volatility, a useful asset due to its inverse relationship with the general health of the market. VXX is not an investment in VIX itself but rather linked to an index of VIX futures. However, because they are short-dated, VXX is highly correlated with VIX itself.
The fund has $480.7 million in AUM and an expense ratio of 0.89%.
VXX has added $481.07 million in AUM YTD.
<h2>Losers</h2>
FT Cboe Vest U.S. Equity Deep Buffer ETF - August (BATS: <a class="ticker" href="https://www.benzinga.com/stock/daug#BATS">DAUG</a>)
DAUG lost $337.71 million in net assets over the trailing week.
The FT Cboe Vest U.S. Equity Deep Buffer ETF - August Fund invests primarily in FLEX Options that reference the SPDR S&amp;P 500 ETF Trust. The ETF is designed to provide a buffer against losses between 5% and 30% while capping the gain at 14.79%
DAUG has $421.1 million in AUM and an expense ratio of .85%.&nbsp;
DAUG has added $79.66 million in net assets YTD.
iShares Core U.S. REIT ETF (NYSEARCA: USRT)
IWY lost $107.02 million in net assets over the trailing week.
The iShares Core U.S. REIT ETF is designed to offer broad exposure to the U.S. real estate market at a low cost.
JNK has $1.91 billion in AUM and an expense ratio of 0.08%. The fund has holdings in 138 companies, with the 10 largest comprising 46.65% of the fund.
The fund&rsquo;s largest holdings are Prologis, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pld#NYSE">PLD</a>) and Equinix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eqix#NASDAQ">EQIX</a>) making up 14.13% and 12.90% of the fund, respectively.
IWY has added $19.53 million in net assets YTD.
Featured photo by<a href="https://unsplash.com/@matthardy?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Matt Hardy</a> on<a href="https://unsplash.com/photos/6ArTTluciuA?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>.

CMCSA

DAUG

EQIX

VXX Adds $63.85 As Fear Still Pervades Market -  ETF Winners And Losers: Small-Cap Fund Flows

Market volatility, simply put, is how much and how quickly prices change. The larger and quicker, the more volatile the market.
Market volatility is measured by finding the standard deviation from mean prices over a given period of time, or more commonly, the expected deviation in the future. And this, it turns out, is a great way to gauge the sentiment of investors in a market.
Most investors will be familiar with the CBOE Volatility Index (INDEXCBOE: VIX), or VIX. This tracks the expected volatility of the S&amp;P 500 and is often called the &ldquo;fear&rdquo; index because as VIX rises, markets fall, and vice versa. At least, this is the perception. There is by no means a one-to-one relationship, but they are certainly linked.
The largest spikes in VIX, by a mile, came at the height of the 2008 financial crisis and again during the spring of 2020 as the world shut down in response to the Covid-19 Pandemic.&nbsp;
Smart investors then, can use market volatility not just as a guide, but as a hedge. Certain ETFs allow investors access to monetizing volatility. Therefore if the value of the rest of a portfolio falls, that damage can be offset by the rise in volatility.
Not all ETFs are created equal, however. It is important for investors to understand what they are investing in and when presented with multiple options, to choose carefully.
Let&rsquo;s look at two options head to head:&nbsp;
ProShares VIX Short-Term Futures ETF (NYSEARCA: VIXY) vs. <a href="https://www.convexityshares.com/">ConvexityShares</a> 1x SPIKES Futures ETF (NYSEARCA: SPKX)
Underlying Index
This is perhaps the most significant distinction between these two options. VIXY is tied to an index of VIX futures while SPKX is tied to MIAX&rsquo;s SPIKES (INDEX: SPIKE) futures. SPIKES offers several advantages over VIX. The index uses live pricing data (vs an average calculation) and updates every 100 milliseconds (vs every 15 seconds). It also employs a proprietary mechanism it calls price dragging that reduces anomalous spikes in the index.
Cost
VIXY has an expense ratio of 1.05%, while SPKX has an expense ratio of 0.65%.
AUM
VIXY is much larger with $211.4 Million in AUM, while SPKX has just over $1 Million.
YTD Performance
It has been a good year for US equities in general, and thus, not a great year for volatility ETFs. VIXY is down 54.69% and SPKX is down 53.59%.

ConvexityShares Trust ConvexityShares 1x SPIKES Futures ETF

SPKX

Market Volatility Is On The Horizon -  How Can Traders Use This To Their Advantage? Compare These Two Volatility ETFs

We performed a screening of Small-Cap ETFs, defined as having Assets Under Management (AUM) between $400 million and $2 billion - to determine what funds had the largest positive and negative returns on the week, according to data from <a href="http://etfdb.com">etfdb.com</a>. Only non-leveraged funds were considered.&nbsp;
<h2>Winners</h2>
ETFMG Prime Junior Silver Miners Fund (NYSEARCA: SILJ)
SILJ is up 11.23% over the trailing week.
The ETFMG Prime Junior Silver Miners Fund is one of the first products providing direct exposure to the silver mining exploration and production industry. The first and only ETF to target small cap silver miners. Silver is the most electrically conductive metal in the world and has significant industrial application (solar panels, medical devices, smart phones) and acts as a store of value (coins, bars, jewelry).
The fund has $703.3 million in AUM and an expense ratio of 0.69%. SILJ has holdings in 59 companies, with the 10 largest comprising 64.56% of the fund.
The fund&rsquo;s largest holdings are Pan American Silver Corp. (TSE: PAAS) and First Majestic Silver Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ag#NYSE">AG</a>) making up 14.46% and 12.16% of the fund, respectively.
SILJ is up 0.47% YTD.
Global X Silver Miners ETF (NYSEARCA: SIL)
SIL is up 11.23% over the trailing week.
The Global X Silver Miners ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Silver Miners Total Return Index, providing investors access to a broad range of silver mining companies.
The fund has $920.7 million in AUM and an expense ratio of 0.65%. SIL has holdings in 37 companies, with the 10 largest comprising 76.03% of the fund.
The fund&rsquo;s largest holdings are Wheaton Precious Metals Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wpm#NYSE">WPM</a>) and Pan American Silver Corp. (TSE: PAAS) making up 22.68% and 13.7% of the fund, respectively.
SIL is up 0.47% YTD.
<h2>Losers</h2>
iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>)
VXX is down 7.81% over the trailing week.
The Fund provides exposure to market volatility, a useful asset due to its inverse relationship with the general health of the market. VXX is not an investment in VIX itself, but rather linked to an index of VIX futures. However, because they are short dated, VXX is highly correlated with VIX itself.
The fund has $418.3 million in AUM and an expense ratio of 0.89%.
VXX is down 58.43% YTD.
United States Natural Gas Fund LP (NYSEARCA: UNG)
UNG was down 11.64% on the week.
The United States Natural Gas Fund, LP (NYSEARCA: UNG) is designed to track the movement of the price of natural gas, in percentage terms. The fund uses the futures contract on natural gas as traded on the NYMEX as its benchmark.
The fund has $1.07 billion in AUM and an expense ratio of 1.11%.
YTD, UNG is down 50.35%.
Read next:&nbsp;<a href="https://www.benzinga.com/etfs/23/07/33221302/this-exchange-has-gained-a-16-24-foothold-in-just-a-matter-of-years-disrupting-the-industry-how-to-t">This Exchange Has Gained A Massive Foothold, Disrupting The Industry - How To Trade Some Of The Most Cutting Edge Volatility Products On The Market</a>
Featured photo by<a href="https://unsplash.com/@kierinsightarchives?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Kier in Sight Archives</a> on<a href="https://unsplash.com/backgrounds/colors/silver?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>

Small Cap

ARKF

SILJ

Wednesday's ETF Winners And Losers: Small-Cap Returns - Silver Delivers With SILJ Up 11.23% Beating Cathie Wood's ARKF

The CBOE Volatility (VIX) Index, commonly known as the &#8220;fear index,&#8221; surged over 20% on Thursday, reflecting the prevailing market volatility across <a href="https://www.benzinga.com/quote/spy" target="_blank" rel="noreferrer noopener">major U.S. stock indices.</a>
With a daily change of 20%, the VIX is on track for its best session of 2023, topping the spike seen on March 8, when it soared 18.3% following the banking failures of Silicon Valley Bank and Signature Capital.
<h2 class="wp-block-heading">Chart: CBOE Volatility Index On Track For The Best 2023 Session (1-day % change in VIX)</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="750" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/07/06113233/VIX_2023-07-06_17-24-35_56eb0-1024x750.png" alt="" class="wp-image-63428" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/07/06113233/VIX_2023-07-06_17-24-35_56eb0-1024x750.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/07/06113233/VIX_2023-07-06_17-24-35_56eb0-300x220.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/07/06113233/VIX_2023-07-06_17-24-35_56eb0-768x562.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/07/06113233/VIX_2023-07-06_17-24-35_56eb0-1536x1125.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/07/06113233/VIX_2023-07-06_17-24-35_56eb0.png 1618w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Why is Stock Market Volatility Spiking on Thursday?</h2>
The spike in the VIX was fueled by mounting concerns that the Federal Reserve may raise interest rates again in 2023, potentially with two more hikes by year-end, as indicated by the June dot plot.
Wednesday&#8217;s <a href="https://www.benzinga.com/economics/macro-economic-events/23/07/33120898/fed-minutes-show-dissent-on-the-board-foreshadow-more-interest-rate-hikes-in-2023" target="_blank" rel="noreferrer noopener">minutes from the latest June FOMC Meeting</a> revealed an unusual dissent within the board, with a minority of members preferring a rate hike in June rather than keeping rates unchanged.
The minutes also indicated a strong consensus to implement further rate increases, as reflected in the macroeconomic projections, with two hikes being the median preference among Fed members.
<h2 class="wp-block-heading">Strong Economic Data Backed by Hawkish Fed Remarks</h2>
On Thursday, better-than-expected economic data further fueled market expectations of rate hikes by the Federal Reserve.
The <a href="https://www.benzinga.com/economics/macro-economic-events/23/07/33131965/adp-job-growth-soars-by-500k-jobless-claims-ticks-higher-traders-raise-fed-hike-b">ADP National Employment Report</a> revealed an impressive 497,000 new payrolls in June, a remarkable jump from May&#8217;s 278,000 and well above the forecast of 220,000.
Shortly after, the Institute for Supply Management (ISM) reported a <a href="https://www.benzinga.com/economics/macro-economic-events/23/07/33134063/us-services-sector-signals-strong-growth-beats-expectations-amplifying-rate-hike-" target="_blank" rel="noreferrer noopener">surge in the Services PMI</a> to 53.9 in June, up from 50.3 in May and beating expectations of 51. This marks the sixth consecutive expansion reading for the private services sector.
Adding fuel to the fire, Lorie K. Logan, president and CEO of the Federal Reserve Bank of Dallas and a Federal Committee Member this year, stated that &#8220;more restrictive policy and rate hikes are needed for the FOMC to reach goals.&#8221; She also expressed concern about the speed at which inflation will cool down and revealed her preference for a June rate hike.
<h2 class="wp-block-heading">Traders Now Fear the Fed Will Hike Twice</h2>
All these events have led traders to anticipate an increased likelihood of Fed rate hikes.
The probability of a 25 basis points hike in July has now risen to 95%, up from 90% yesterday.
More worrisome is the probability of a consecutive hike in September, which has increased from yesterday&#8217;s 18% to 28.5%, and the likelihood of a second rate hike in November now stands at over 40%, according to CME Group Fed Watch tool. 
<h2 class="wp-block-heading">CME Group Fedwatch: FOMC Meeting Probabilities as of July 6</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>MEETING DATE</th>
<th>450-475</th>
<th>475-500</th>
<th>500-525</th>
<th>525-550</th>
<th>550-575</th>
<th>575-600</th>
</tr>
</thead>
<tbody>
<tr>
<td>26/07/2023</td>
<td></td>
<td></td>
<td>5,1%</td>
<td>94,9%</td>
<td></td>
<td></td>
</tr>
<tr>
<td>20/09/2023</td>
<td></td>
<td></td>
<td>3,6%</td>
<td>67,9%</td>
<td>28,5%</td>
<td></td>
</tr>
<tr>
<td>01/11/2023</td>
<td></td>
<td></td>
<td>2,5%</td>
<td>49,0%</td>
<td>40,1%</td>
<td>8,4%</td>
</tr>
<tr>
<td>13/12/2023</td>
<td></td>
<td>0,2%</td>
<td>6,7%</td>
<td>48,2%</td>
<td>37,3%</td>
<td>7,6%</td>
</tr>
<tr>
<td>31/01/2024</td>
<td></td>
<td>1,3%</td>
<td>13,6%</td>
<td>46,4%</td>
<td>32,4%</td>
<td>6,4%</td>
</tr>
<tr>
<td>20/03/2024</td>
<td>0,4%</td>
<td>4,7%</td>
<td>22,7%</td>
<td>42,4%</td>
<td>25,1%</td>
<td>4,6%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">ETFs Tracking The VIX Index </h2>
There are several ETFs available that track the VIX index. Here are a few examples:
<ol>
<li>ProShares VIX Short-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIXY#NYSE">VIXY</a>)</li>
<li>iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VXX#NYSE">VXX</a>)</li>
<li>VelocityShares Daily 2x VIX Short-Term ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TVIX#NYSE">TVIX</a>)</li>
<li>ProShares Ultra VIX Short-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UVXY#NYSE">UVXY</a>)</li>
ProShares VIX Mid-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIXM#NYSE">VIXM</a>) Photo: Shutterstock
</ol>

Federal Reserve

Intraday Update

TVIX

VIXM

Investor Anxiety Grows As VIX Index Records Dramatic Increase Amid Fed Rate Hike Concerns: Why Is Volatility Spiking Thursday?

Market attention is turning to the upcoming release of the Federal Reserve minutes from the June 14 meeting, scheduled for release at 2 p.m. EDT Wednesday. This highly anticipated event is expected to spark reactions across markets as investors seek further clarity on the <a href="https://www.benzinga.com/economics/macro-economic-events/23/07/33099550/attention-shifts-to-fed-minutes-volatility-may-resume-this-week-as-markets-do-not" target="_blank" rel="noreferrer noopener">Federal Reserve&#8217;s interest rate trajectory. </a>
Let&#8217;s explore what the minutes might reveal and how they could shape market expectations.
<h2 class="wp-block-heading">Fed Pauses In June, But Hints At 2 More Hikes</h2>
During the June meeting, the Fed decided to maintain the funds rate target at 5%-5.25%, pausing a series of uninterrupted rate hikes that started in March 2022. Yet the updated economic projections in June suggest that fed funds may reach 5.6% by the end of the year, indicating the possibility of two more rate hikes.
Fed Chair Jerome Powell&#8216;s recent comments suggest that two further rate hikes are a &#8220;pretty good guess&#8221; following the June pause, with the possibility of consecutive hikes still on the table.
It&#8217;s highly likely the minutes of the June meeting will confirm the board&#8217;s strong majority for two additional rate hikes in 2023 and the intention to maintain higher interest rates for an extended period.
Read also: <a href="https://www.benzinga.com/news/23/07/33110810/after-powells-muddled-message-economist-thinks-fed-minutes-may-clarify-awkward-june-meet-outcome" target="_blank" rel="noreferrer noopener">After Powell&#8217;s &#8216;Muddled&#8217; Message, Economist Thinks Fed Minutes May Clarify &#8216;Awkward&#8217; June Meet Outcome</a>
<h2 class="wp-block-heading">Market Expectations Are Dovish: Only 1 Rate Hike Has Been Priced In</h2>
Skepticism remains among market participants that the Fed can enact two more rate hikes in 2023.
CME Group&#8217;s Fedwatch tool predicts a nearly 90% chance of a rate hike in July, but only a 17% or 30% chance of another hike in either September or November.
The market has already priced in a rate cut in the first quarter of 2024, but the Fed minutes could push this optimistic expectation forward to the second quarter of next year. The Fed&#8217;s latest economic projections suggest a gradual decline in the fed funds rate to 4.6% in 2024. 
<h2 class="wp-block-heading">CME Group Fedwatch: Target Rate Probabilities As Of July 5, 2023</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>MEETING DATE</th>
<th>400-425</th>
<th>425-450</th>
<th>450-475</th>
<th>475-500</th>
<th>500-525</th>
<th>525-550</th>
<th>550-575</th>
<th>575-600</th>
</tr>
</thead>
<tbody>
<tr>
<td>26/07/2023</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>11.3%</td>
<td>88.7%</td>
<td>0.0%</td>
<td>0.0%</td>
</tr>
<tr>
<td>20/09/2023</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>9.1%</td>
<td>73.2%</td>
<td>17.7%</td>
<td>0.0%</td>
</tr>
<tr>
<td>01/11/2023</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>6.6%</td>
<td>55.8%</td>
<td>32.8%</td>
<td>4.8%</td>
</tr>
<tr>
<td>13/12/2023</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.0%</td>
<td>1.2%</td>
<td>15.5%</td>
<td>51.7%</td>
<td>27.7%</td>
<td>3.9%</td>
</tr>
<tr>
<td>31/01/2024</td>
<td>0.0%</td>
<td>0.0%</td>
<td>0.4%</td>
<td>5.6%</td>
<td>26.7%</td>
<td>44.2%</td>
<td>20.3%</td>
<td>2.7%</td>
</tr>
<tr>
<td>20/03/2024</td>
<td>0.0%</td>
<td>0.2%</td>
<td>2.7%</td>
<td>14.9%</td>
<td>34.4%</td>
<td>33.7%</td>
<td>12.6%</td>
<td>1.5%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">Investors Brace For Return Of Volatility</h2>
There is room for surprises and thus a return of volatility if the Fed sticks to a fairly hawkish stance by leaning toward two hikes. 
Ahead of Wednesday&#8217;s release of the Federal Reserve&#8217;s minutes, the CBOE Volatility Index (VIX), or &#8216;fear index,&#8217; rose by 3%.
At the end of June 2023, the volatility gauge hit the lowest level since February 2020 after a 44% year-to-date plunge. 
The following popular ETFs that track the VIX index:
<ol>
<li>iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VXX#NYSE">VXX</a>)</li>
<li>ProShares VIX Short-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIXY#NYSE">VIXY</a>)</li>
<li>VelocityShares Daily 2x VIX Short-Term ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TVIX#NYSE">TVIX</a>)</li>
<li>ProShares Ultra VIX Short-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UVXY#NYSE">UVXY</a>)</li>
<li>iPath Series B S&amp;P 500 VIX Mid-Term Futures ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VXZ#NYSE">VXZ</a>)</li>
<li>VelocityShares Daily Inverse VIX Short-Term ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XIV#NYSE">XIV</a>)</li>
<li>ProShares Short VIX Short-Term Futures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SVXY#NYSE">SVXY</a>)</li>
</ol>
Photo via Shutterstock.

Previews

SVXY

Barclays Bank iPath S&P 500 VIX Mid-Term Futures ETN

Fed Minutes Arrive At Critical Juncture: Will The Call For 2 Hikes Shake Markets?

The SPDR S&amp;P 500 ETF Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) snapped its winning streak last week and kicked off Monday with another day of steep losses.
DataTrek Research co-founder Nicholas Colas discussed three reasons why the summer stock market rally has run out of steam despite four consecutive weeks of gains.
<ol>
<li>Investors should monitor yields on 10-year U.S. Treasuries with the next Federal Reserve meeting looming in September, Colas said. Ten-year Treasury yields started the month of August at 2.60%, but they finished last week at 2.98% and were trading at 2.99% on Monday morning. In addition, Colas pointed out that the Fed&#39;s monthly balance sheet reductions will double from $30 billion to $60 billion in September, potentially applying further pressure to stock prices.</li>
<li>The dollar has been gaining ground rapidly over the past 10 days. The euro is nearly back on par with the dollar. The Invesco DB US Dollar Index Bullish Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uup#NYSE">UUP</a>) was up 0.5% on Monday and is now up 1.9% overall in the past five trading sessions.</li>
<li>Oil prices have been moderating, but natural gas prices continued to rise to new 2022 highs of $9.34 on Friday. That trend continued on Monday, with the United States Oil ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uso#NYSE">USO</a>) down 2.8% and the United States Natural Gas Fund, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ung#NYSE">UNG</a>) up 4.2% in early trading. Colas said higher natural gas prices are inflationary across a number of different industries.</li>
</ol>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/08/28498109/why-investors-shouldnt-be-so-happy-about-8-5-cpi-inflation">Why Investors Shouldn&#39;t Be So Happy About 8.5% CPI Inflation; They&#39;re Ignoring &#39;The Elephant In The Room&#39;</a> 
Given these three troubling trends and uncertainty surrounding the upcoming Jackson Hole Summit later this week, investors should expect the VIX volatility index and Barclays iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>) to remain elevated for now, Colas explained.
&quot;We continue to believe the VIX should, and will, trade in a band from 20-28 and we would use the upper end of that range as a place to add equity exposure,&quot; Colas said.
See Also: <a href="https://www.benzinga.com/news/22/08/28571056/s-p-500-snaps-4-week-winning-streak-as-investors-anticipate-higher-interest-rates">S&amp;P 500 Snaps 4-Week Winning Streak As Investors Anticipate Higher Interest Rates</a>
Benzinga&#39;s Take: The S&amp;P 500 went on quite a run in late July after the latest batch of economic data indicated inflation may have finally peaked. However, just because inflation may have peaked doesn&#39;t mean the Fed is going to stop aggressively tightening to get it back closer to its 2% target, a message investors will likely hear loud and clear from Fed Chair Jerome Powell during his speech at Jackson Hole

3 Reasons The Summer Stock Market Rally Has Stalled

AAPL

AMZN

NVDA

TLRY

TSLA

Top WallStreetBets Mentions for Monday March 28, 2022 Since 9:30 AM ET Open :  GME, AMC, TSLA, TLRY, VXX, AMD, AAPL, AMZN, NVDA, ZIM

Benzinga&rsquo;s &ldquo;Daily Brief On Trending Tickers&rdquo; highlights top-searched tickers from around the web and uses the <a href="https://pro.benzinga.com/">Benzinga Pro</a> platform to highlight recent news items possibly impacting those stocks. 
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.
Alibaba Group Holding Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>): Chinese stocks are seeing some relief&nbsp;Wednesday as China&rsquo;s top administrative authority said it would work to stabilize Chinese stock markets and boost economic growth in the first quarter with &ldquo;concrete actions,&rdquo; state-run Xinhua News Agency reported.
Nio Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>): Hong Kong&rsquo;s Hang Seng Index soared 9.1% &amp; China&rsquo;s Shanghai Composite +3.5% after reports of progress with U.S. regulators on a cooperation plan for Chinese stocks listed in the U.S.
GameStop (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gme#NYSE">GME</a>) is up 3.88% in Wednesday&rsquo;s premarket session ahead of earnings Thursday. To beat market expectations, GameStop will need to report EPS above 84 cents.
AMC Entertainment (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) CEO Adam Aron announced a 22% stake in Hycroft Mining Holding Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hymc#NASDAQ">HYMC</a>), which holds the 71,000-acre Hycroft Mine in northern Nevada. In addition, AMC will receive an additional 23.4 million warrants in Hycroft at $1.07 per share.
Hycroft Mining Corp,&nbsp;which owns a mine in Northern Nevada, was on the verge of bankruptcy before AMC&#39;s investment. Now, it plans to raise up to $500 million by selling shares in the open market over time.
Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) raised prices by 3% to 5% in both the U.S. and China. This is Tesla&rsquo;s second round of price increases in the last week.
Advanced Micro Devices (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) shares are trading 2.49% higher after Cowen&#39;s&nbsp;recommendation of AMD&#39;s larger competitor, Nvidia (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), which Cowen named a &quot;top pick&quot; in the industry based on projections the company could earn $28 a share in 2030, and book $140 billion in revenues. Cowen&#39;s report notes that &quot;we make NVIDIA our new top pick, along with AMD.&quot;
Barclays iPath Series B S&amp;P 500 VIX Short-Term Futures (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>) shares soared for a second day on Tuesday, a day after British bank Barclays said it had suspended the sales and issuance of the shares due to capacity constraints.

Penny Stocks

Crowdsourcing

General

BABA

Hycroft Mining Holding Corporation - Class A Common Stock

HYMC

Benzinga's Daily Brief On Trending Tickers For March 16, 2022: Alibaba, GameStop And More

Top 10 WallStreetBets Mentions for Wednesday, March 16, 2022 Since 12 AM ET: BABA, GME, AMC, TSLA, NIO, AMD, VXX, AAPL, FXH, ZIM

iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>) is seeing the highest interest on Reddit&rsquo;s r/WallStreetBets forum as of early Wednesday.
What Happened: The exchange-traded note topped the discussions on the forum with 484 mentions, followed by SPDR S&amp;P 500ETF Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) and GameStop Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gme#NYSE">GME</a>) with 406 mentions and 217 mentions, respectively, data from Quiver Quantitative showed.
The ETN is also trending in the third spot on Stocktwits.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/22/02/25785538/6-etfs-to-watch-as-russia-ukraine-crisis-heats-up">6 ETFs To Watch As Russia-Ukraine Crisis Heats Up</a>
Why It Matters: ETNs are a type of unsecured debt securities that track an underlying index of securities and trade on a major exchange like a stock. They are similar to bonds but do not have interest payments.
The VXX, which closely tracks the Chicago Board Options Exchange (CBOE) Volatility Index or VIX, is a popular way for investors to trade stock market volatility.
Barclays PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) said Monday it would be suspending the sale and issuance of two ETNs &mdash; including the VXX ETN &mdash; due to capacity constraints.
With no new shares being issued, the price of VXX has become untethered from the value of the underlying asset. Short sellers will also find it difficult to buy new shares to close their bearish positions in VXX.
Price Action: VXX closed 0.4% lower in Tuesday&rsquo;s regular trading session at $28.70, but rose 4.9% in the after-hours session to $30.11.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/22/03/26157475/cathie-wood-buys-more-shares-in-this-chinese-rival-of-tesla-backed-by-warren-buffett">Cathie Wood Buys More Shares In This Chinese Rival Of Tesla Backed By Warren Buffett</a>

Why This Popular Volatility-Focused ETN Is Seeing High Interest From Retail Investors Today

On Monday, Barclays PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) announced it would be suspending the sale and issuance of two popular exchange-traded notes (ETNs) due to capacity constraints. After trading in tandem throughout most of 2022, the Barclays iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/vxx#BATS">VXX</a>) and the Barclays Bank iPath Pure Beta Crude Oil ETN (BATS: <a class="ticker" href="https://www.benzinga.com/stock/oil#BATS">OIL</a>) have diverged in a major way this week following the announcement.
OIL And VXX Explained: The VXX is one of the most popular ways for investors to trade stock market volatility. The VXX tracks the Chicago Board Options Exchange Volatility Index, while the OIL ETN tracks the S&amp;P GSCI Crude Oil Total Return Index.
Related Link: <a href="https://www.benzinga.com/general/education/22/03/26147256/good-as-gold-investors-havent-given-up-on-the-traditional-safe-heaven">Good As Gold: Investors Haven&#39;t Given Up On The Traditional Safe Haven</a> 
Because ETNs are issued as senior debt notes and are not actually ownership shares of an underlying commodity, they are more like bonds than ETFs.
On Monday, Barclays said it currently does not have the capacity to support additional sales of either ETN or issue additional shares, leading market experts to speculate that Barclays may simply be attempting to reduce its risk. It also creates the opportunity for a potential short squeeze, which may have already begun.
Short Squeeze? Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners, estimates <a href="https://www.reuters.com/business/finance/barclays-suspends-sales-notes-linked-oil-volatility-2022-03-14/">about 90%</a> of the VXXs shares were held short as of earlier this week. Once share creation stopped, short sellers lost access to a source of new shares to borrow.
Since last week&#39;s close, the OIL ETN is down 7.8% while the VXX fund is up 27.5%. The fact that the underlying VIX volatility index was down 2.9% on Tuesday, while the VXX fund was up 10.7% in midday trading, suggests a short squeeze could be in&nbsp;play.
Benzinga&#39;s Take: Traders should be extremely careful trying to time a potential short squeeze and any eventual pullback in the VXX. Short squeezes are notoriously <a href="https://www.benzinga.com/money/most-volatile-stocks/">volatile</a> and unpredictable, even to some of the most experienced stock traders.

Education

Commodities

iPath Dow Jones-Goldman Sachs Crude Oil Fund

Here's Why The VXX Volatility ETN Is Soaring

ARKK

Top 10 WallStreetBets Mentions for Tuesday, March 15, 2022 Since 9:30 AM ET Open: VXX, GME, AMC, BABA, TSLA, NIO, ARKK, HYMC, AMD, AAPL

Movers

IPath Series B S&P 500 VIX Short-Term Futures ETN Shares Halted On Circuit Breaker To Downside; Up 16%

IPath Series B S&P 500 VIX Short-Term Futures ETN Shares Halted On Circuit Breaker To Downside; Up 29%

IPath Series B S&P 500 VIX Short-Term Futures ETN Shares Resume Trading, Continue Higher; Up 41%

IPath Series B S&P 500 VIX Short-Term Futures ETN Shares Resume Trading, Halted On Circuit Breaker To Upside; Up 38%

Press Releases

IMPORTANT DEADLINE: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Barclays PLC Investors to Secure Counsel Before Important May 20 Deadline in Securities Class Action - VXX

VXX DEADLINE ALERT: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Barclays PLC Investors to Secure Counsel Before Important May 20 Deadline in Securities Class Action - VXX

ZC SP ETN REDEEM 23/01/2048 USD 27.193879 - Ser A ShortTerm Futu

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iPath Series B S&P 500 VIX Short-Term Futures ETN

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