The VS TR 2x Long VIX Futures ETF (UVIX) is experiencing price movement influenced by a decrease in market volatility, as indicated by the significant drop in the NSE VIX. On January 7, 2025, the NSE VIX fell by 6.32% to 14.66, reflecting a reduction in investor anxiety. This decline in volatility is largely attributed to the rebound in domestic equity indices, with the Nifty 50 index closing above the 23,700 mark, driven by gains in energy and metal stocks. The broader market also showed strength, with the S&P BSE Mid-Cap and Small-Cap indices advancing. The positive sentiment in global markets, particularly in U.S. technology shares, further contributed to the calming of volatility.
The current price of the UVIX ETF is $3.11, reflecting a slight decrease of 0.36% from the previous close.