On July 19, Cameco’s stock, after a month of decline, started to rise. On that day, it was $16.08. Nevertheless, today, it is currently at $17.29, resulting in a 7.5% gain. What is the buzz? Game-changing new uranium exchange-traded fund (ETF) began trading on Canada’s Toronto Stock Exchange. The Sprott Physical Uranium Trust fund started trading on the Toronto Stock Exchange on July 19.
The Sprott Physical Uranium Trust is the world’s biggest uranium fund that invests in physical uranium. The entry of such a large, actively managed fund could change the game for the uranium market as the fund will provide investors looking for exposure to uranium with an easy, liquid option to put their money into. That should spark the demand for physical uranium, which could be for a long time. To clarify, the fund purchased 100,000 pounds of uranium compound on its first day of trading.
This ETF has perfect timing. Uranium prices have risen higher in recent months, and large miners like Cameco are finally seeing an improvement in the market demand. More importantly, President Joe Biden’s plan, which includes significant investments in clean energy including nuclear, has given hopes for the uranium industry. So, a bright future is underway.
Editor in Chief.
Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life