Dallas, Texas 08/01/2013 (Financialstrend) – The declining trend in the unit prices of iPath S&P 500 VIX Short term futures TM ETN (NYSEARCA:VXX) seems to continue further to move the ETN to plunge to new bottoms. While the ETN had been declining heavily for the past 52 weeks of trading which had resulted in a loss of around 70.98% for the investors, even the corrections in between this declining trend had not proven significant to present any marginal gains to the investors. While marginal recovery was expected from the ETN with its flat trend in prices for the past few days, the decline in prices on Wednesday had waived off any signs of hope left with the investors.
It had been quite common for the shares of iPath S&P 500 VIX Short term futures TM ETN (NYSEARCA:VXX) to continue to trade at price levels less than $20 per unit for the past 52 weeks, except for the recent surge in prices by the end of June 2013 to the level of $22 per share.
iPath S&P 500 VIX Short term futures TM ETN (NYSEARCA:VXX) had presented loss of 2.08% with the trading on Wednesday and had thereby closed at $15.08 per share. While the stock opened at $15.39 per share, there had been fluctuations in the intraday prices ranging between $14.74 and $15.39 per share during the day. The 52 week low price for the stock is presently at $14.74 and 52 week high price is at $55.28 per share. There market cap of the company is $1.37 billion. The stock witnessed around 5.82 million shares being exchanged hands on Wednesday.