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Trackinsight: Uranium ETFs recover after a rough week

09/28/2021 | 09:30am EDT

These funds have surged since Sprott Asset Management began buying millions of pounds of physical Uranium.

Uranium ETFs recovered on Monday after a disappointing week which saw Horizons Global Uranium Index ETF (HURA), North Shore Global Uranium Mining ETF (URNM) and Global X Uranium ETF (URA) lose -11.75%, -8.5% and 6.6% respectively.

These funds have surged since Sprott Asset Management began buying millions of pounds of physical Uranium through their Sprott Physical Uranium Trust. A cool down in the buying activity by Sprott and profit taking by Uranium ETF investors sparked the sell-off.

The bleeding stopped on Monday with URNM and URA leading the comeback with +5.84% and +5.45% gain respectively, while HURA modestly rose by 1.39%.

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© www.trackinsight.com 2021
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