At a Glance
- Citigroup reiterated its Neutral recommendation for iPath Series B S&P 500 VIX Short-Term Futures ETN (BATS:VXX) on October 23, 2025.
- The average one-year price target for VXX is $36.45, indicating potential upside of 8.91% from its last closing price.
- Institutional ownership saw an increase in the number of funds, but a slight decrease in total shares held over the last quarter.
- The put/call ratio for VXX stands at 0.65, suggesting a bullish sentiment among options traders.
- Barclays significantly reduced its holdings and portfolio allocation in VXX, while Goldman Sachs and Stableford Capital II increased their positions.
Citigroup Maintains Neutral Stance on VXX
On October 23, 2025, Fintel reported that Citigroup has reiterated its coverage of the iPath Series B S&P 500 VIX Short-Term Futures ETN (BATS:VXX) with a Neutral recommendation.
Analyst Price Forecast and Upside Potential
Analyst Price Forecast Suggests 8.91% Upside
As of September 30, 2025, the average one-year price target for iPath Series B S&P 500 VIX Short-Term Futures ETN is set at $36.45 per share. Price forecasts range from a low of $30.34 to a high of $46.89. This average target represents a potential increase of 8.91% from its most recent reported closing price of $33.47 per share.
Projected Financials
The projected annual revenue for iPath Series B S&P 500 VIX Short-Term Futures ETN is $27,645 million. The projected non-GAAP earnings per share (EPS) is $0.39.
Institutional Investor Sentiment
What is the Fund Sentiment?
A total of 69 funds or institutions have reported positions in iPath Series B S&P 500 VIX Short-Term Futures ETN. This marks an increase of 2 owners, or 2.99%, over the last quarter. The average portfolio weight dedicated to VXX across all funds has seen a significant increase of 144.54%, now standing at 0.15%. Despite the increased interest from more institutions, the total shares owned by institutions collectively decreased by 0.83% in the last three months, totaling 9,241 thousand shares.
💡 The put/call ratio for VXX is currently 0.65, which indicates a bullish outlook among options traders.
Notable Shareholder Activity
What are Other Shareholders Doing?
Barclays, a significant shareholder, now holds 5,251 thousand shares. This represents a decrease of 26.21% from its prior filing, where it reported owning 6,627 thousand shares. The firm also decreased its portfolio allocation in VXX by 40.21% over the last quarter.
Conversely, Goldman Sachs Group has initiated a position, holding 1,004 thousand shares, a 100.00% increase from its previous filing where it held 0 shares.
Stableford Capital II also increased its holdings significantly, now owning 466 thousand shares, up from 71 thousand shares in the prior filing. This represents an increase of 84.86%, with the firm boosting its portfolio allocation in VXX by 396.34% over the last quarter.
Jane Street Group has reduced its stake, holding 444 thousand shares, a decrease of 20.75% from its previous filing of 536 thousand shares. The firm also decreased its portfolio allocation in VXX by 39.30% over the last quarter.
Millennium Management has also decreased its holdings, now holding 409 thousand shares, down from 538 thousand shares. This represents a decrease of 31.52%, and the firm reduced its portfolio allocation in VXX by 35.60% over the last quarter.
Expert Summary
Citigroup has maintained a Neutral recommendation for the iPath Series B S&P 500 VIX Short-Term Futures ETN. While analysts project potential upside, institutional investor activity shows mixed signals, with some significantly reducing positions while others are increasing their exposure. The options market currently indicates a bullish sentiment for the ETN.