Sprott Uranium Miners ETF (NYSEARCA:URNM) Reaches New 12-Month Low – What’s Next?

Shares of Sprott Uranium Miners ETF (NYSEARCA:URNM) reached a new 52-week low during trading on Thursday. The stock traded as low as $46.36 and last traded at $46.3410, with a volume of 348644 shares traded. The stock had previously closed at $47.87.

Sprott Uranium Miners ETF Stock Down 4.3%

The stock has a market capitalization of $1.77 billion, a PE ratio of 7.69 and a beta of 1.09. The stock’s 50-day moving average is $53.22 and its 200 day moving average is $56.96.

Hedge Funds Weigh In On Sprott Uranium Miners ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Group One Trading LLC purchased a new stake in shares of Sprott Uranium Miners ETF during the first quarter worth $36,523,000. Acorn Financial Advisory Services Inc. ADV acquired a new position in Sprott Uranium Miners ETF in the 1st quarter worth about $13,258,000. Royal Bank of Canada increased its position in Sprott Uranium Miners ETF by 1.1% in the 1st quarter. Royal Bank of Canada now owns 121,836 shares of the company’s stock worth $7,695,000 after purchasing an additional 1,320 shares during the last quarter. One Plus One Wealth Management LLC increased its position in Sprott Uranium Miners ETF by 53.3% in the 1st quarter. One Plus One Wealth Management LLC now owns 120,905 shares of the company’s stock worth $7,635,000 after purchasing an additional 42,062 shares during the last quarter. Finally, Brandywine Financial Group purchased a new stake in shares of Sprott Uranium Miners ETF during the 1st quarter worth about $7,053,000.

Sprott Uranium Miners ETF Company Profile

The Sprott Uranium Miners ETF (URNM) is an exchange-traded fund that is based on the North Shore Global Uranium Mining index, a market-cap-weighted index of global companies in the uranium industry. URNM was launched on Dec 3, 2019 and is managed by Sprott.