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Zenger
Zenger
Business
Melanie Schaffer

Convexity Daily 1.5x SPIKES Futures ETF Faces Short-Term Bounce Amidst Upcoming Fed Meeting

ETF
Convexity Daily 1.5x SPIKES Futures ETF was trading about 1.5% lower on Monday bouncing up slightly from near the $5 level, which acted as support over the last three trading sessions, holding the ETF up from continuing in a downtrend pattern. GETTY IMAGES 

Convexity Daily 1.5x SPIKES Futures ETF (NYSE: SPXY) was trading about 1.5% lower on Monday bouncing up slightly from near the $5 level, which acted as support over the last three trading sessions, holding the ETF up from continuing in a downtrend pattern.

SPKY is a 1.5x leveraged fund, which tracks the SPIKES Futures Short-Term Index and measures volatility in broad-based equities in a similar way to ProShares Ultra VIX Short Term Futures ETF (NYSE: UVXY), which tracks the movement of the S&P 500 VIX Short-Term Futures Index.

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