The VS TR 2x Long VIX Futures ETF (UVIX) is experiencing downward pressure as volatility in the markets remains subdued. The underlying VVIX index, which measures the expected volatility of the S&P 500, has decreased by 1.00%, reflecting a calm market environment. This decline in volatility is partly due to the lack of significant market-moving events at the start of the new year, as well as the absence of fresh economic data that could stir investor sentiment. Additionally, the recent FOMC meeting in December, which resulted in a 25 basis point rate cut, has not led to increased market turbulence, further contributing to the low volatility levels.
The UVIX ETF is currently priced at $3.27, marking a 3.68% decrease from its previous close.