The VS TR 2x Long VIX Futures ETF (UVIX) is experiencing a notable price increase, driven by heightened market volatility and investor sentiment shifts. The ETF, which tracks the VIX futures, is benefiting from increased market uncertainty as investors react to a mix of economic data and geopolitical developments. The VIX, often referred to as the "fear index," tends to rise when market participants anticipate increased volatility or downturns in the stock market. This sentiment is reflected in the UVIX's performance, as traders seek to hedge against potential market swings.
Despite the underlying VVIX index showing a slight decline of 1.01%, the UVIX ETF has surged by 5.00% to reach a current price of $3.57 as of 12:37 PM ET on January 2nd.