IPath S&P 500 VIX ETN soars on heavy volume, extends win streak to longest in four months
The iPath S&P 500 VIX Short-term Futures ETN shot up 14.80% in active trade Monday, the biggest one-day gain of 2016, to extend its win streak to five sessions. That's the longest win streak for the measure of stock market volatility (VXX), which tends to rise when stocks fall, since the six-session streak ending Feb. 11, 2016. That was the day the S&P 500 closed at a 22-month low of 1,829.08. The VXX's gain was the biggest since it climbed 14.99% o Dec. 11, 2015. Volume of 124.5 million shares on Monday, which was nearly double the full-day average, made it the most active stock traded on U.S. exchanges. The VXX has run up 28% during its win streak; the S&P 500 has declined for three-straight sessions, and has lost 1.4% during the VXX's losing streak.
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