There was a reverse split (4 to 1) in October 2012....I have been burned too but your really need to do some homework with this turd and better understand what it is. you can normally short it (or buy XIV the inverse) but look closely at the charts. It runs north quick during correction/crashes which is why i am holding it.
You know I am a perpetual short who has profted handily from this vehicle but I have been cured of the one-directional biased and have owned this for almost a month. Trading drops and selling pops, it is a lot of work but I am actually profitable with a few free spins that "could" have yielded greater results but did not yet. That is all this is.
Each day costs money to own the product just like betting single numbers on rouelette. Until such time that you hit the number or volatility occurs and you get a payout. They key is to manage the guaranteed loss and use the knowledge to trade around your long core.
You "can" get lucky with this. The no brainer trade is the short of course, but I have been cured of my perpetual short mentality (which I do still love!) Always being objective is the key to a long trading life!