Sprott Uranium Miners ETF (NYSEARCA:URNM) Sees Significant Drop in Short Interest

Sprott Uranium Miners ETF (NYSEARCA:URNM) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 502,324 shares, a decrease of 51.1% from the June 15th total of 1,026,729 shares. Based on an average trading volume of 452,024 shares, the short-interest ratio is presently 1.1 days. Approximately 1.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Sprott Uranium Miners ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in URNM. Financial Enhancement Group LLC purchased a new position in Sprott Uranium Miners ETF during the 4th quarter valued at about $1,854,000. Perigon Wealth Management LLC purchased a new stake in Sprott Uranium Miners ETF in the fourth quarter worth about $948,000. Foundations Investment Advisors LLC bought a new position in shares of Sprott Uranium Miners ETF during the fourth quarter valued at approximately $1,249,000. Brookstone Capital Management increased its stake in shares of Sprott Uranium Miners ETF by 62.3% during the fourth quarter. Brookstone Capital Management now owns 25,732 shares of the company’s stock valued at $1,412,000 after purchasing an additional 9,882 shares in the last quarter. Finally, Trek Financial LLC purchased a new position in shares of Sprott Uranium Miners ETF during the fourth quarter valued at approximately $7,214,000.

Sprott Uranium Miners ETF Stock Performance

Shares of URNM traded down $2.11 on Thursday, reaching $48.77. The stock had a trading volume of 627,546 shares, compared to its average volume of 835,233. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 7.69 and a beta of 0.91. The company has a 50-day simple moving average of $57.11 and a 200-day simple moving average of $63.62. Sprott Uranium Miners ETF has a 12-month low of $43.10 and a 12-month high of $84.95.

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.