The CBOE Volatility Index—or VIX—fell sharply yesterday, dropping 12.35 percent, which caused many VIX-tracking ETFs to plummet as well, according to an article on the Wall Street Sector Selector.
The losses were attributed to market corrections happening as a result of overbought conditions during last week’s VIX rally, reports Dan Nyaradi, contributor to the Wall St. Sector Selector article.
The article highlighted yesterday’s changes in the following VIX-related ETPs:
- iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX): -11.00 percent
- VelocityShares Daily 2X VIX Short-Term ETN (NYSEArca: TVIX): -19.26 percent
- iPath S&P 500 VIX Mid-Term Futures ETN (NYSEArca: VXZ): -3.84 percent
- S&P 500 Dynamic VIX ETN (NYSEArca: XVZ): -1.06 percent
Also mentioned was the Velocity Shares Daily Inverse VIX Short-Term ETN (NYSEArca: XIV), as it moves inverse to the VIX index. XIV surged 10.62 percent, the article said.
Go to the WallStreetSectorSelector.com to read the full story.