XIV NAV Reported at $5.32

VelocityShares Daily Inverse VIX ETN (NASDAQ: XIV) NAV was $5.32 as of 2/6, according to Bloomberg. This is up from $4.22 at 2/5.

The ETN plunged from a closing price of $99 on 2/5 to $7.35 following the spike in the VIX.

Credit Suisse announced an event acceleration yesterday following the plunge. It will cease to trade after February 20, 2018 and investors will receive a cash payment per ETN in an amount equal to the closing indicative value of XIV on the accelerated valuation date.

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