Shorting VIX ETF - this article says yes
https://www.zerohedge.com/news/2015-08-26/third-vix-etf-short-short-squeeze-row-sends-stocks-low-day
It helps explain why volatility is high even though the S&P is climbing.
For HVI at $ 10, you need to go back to July 2013 when S&P was 1600.
For S&P 1900, HVI should be $ 12