Dallas, Texas 07/15/2013 (Financialstrend) – It has recently been analyzed and reported that the surge in prices of IPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX) proved to mark the beginning of a meaningful correction. The ETN has almost surged by 13 percent over the past few trading sessions to inform that the investors are looking out higher risks in their portfolios and had thereby increased their fear gauges. It further conveys that the support levels as is apparent from technical analysis are also starting to break in the recent days of trading.
As observed from the price charts of the ETN, there has been a declining trend in the price movements that has been continuing for quite a longer duration beginning from July 2012. The ETN which has declined in prices from the highest levels of $60.40 to the recently recorded lowest levels of $17.00 has gradually started to surge from the bottoms. The recovery is gradually set to result in significant profits to the investors in the recent future.
IPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX) shares are currently trading at $17.03, down by 1.84%. During the day, the stock was fluctuating between a low intraday price of $16.98 and a high intraday price of $17.30 per share. The stock currently has a 52-week low of $17.00 and a 52-week high pf $60.40 per share. IPath currently has a market cap of $1.28 billion with many outstanding shares in the market and negligible institutional ownership as percent of its total equity capital. The stock witnessed active trading in around 4.83 million shares on Friday.