Commodities

September 13, 2021

Uranium Blasts Off

Uranium stocks are the highest they’ve been in more than a decade. That boost is thanks to an eager buyer and a global shortage (sound familiar?) 💭

In the last five days, the Global X Uranium ETF has risen 10.5%. Three of the ETF’s largest holdings — NexGen Energy, Cameco Corp, and Denison Mines — have benefited from the shortage in uranium, which has forced prices north.

To make matters worse, one eager buyer purchased a stockpile of the commodity. Sprott Physical Uranium Trust has acquired millions of pounds worth of uranium. According to Morgan Stanley analysts, Sprott’s fund has become “the driving force behind [uranium’s] resurgence.”

$URA is up over 75.4% YTD, making it once of the best-performing ETFs on the market this year.

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