Sprott Uranium Miners ETF (NYSEARCA:URNM) Reaches New 52-Week Low – Here’s Why

Sprott Uranium Miners ETF (NYSEARCA:URNM)’s share price reached a new 52-week low on Wednesday. The company traded as low as $44.17 and last traded at $44.51, with a volume of 1,008,233 shares changing hands. The stock had previously closed at $45.16.

Sprott Uranium Miners ETF Stock Down 1.4%

The firm’s 50-day moving average price is $52.85 and its 200 day moving average price is $56.54. The company has a market capitalization of $1.74 billion, a P/E ratio of 7.69 and a beta of 1.09.

Institutional Trading of Sprott Uranium Miners ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WIT Partners Advisory Pte. Ltd. boosted its position in shares of Sprott Uranium Miners ETF by 596.8% during the first quarter. WIT Partners Advisory Pte. Ltd. now owns 71,981 shares of the company’s stock valued at $4,546,000 after buying an additional 61,651 shares during the last quarter. Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of Sprott Uranium Miners ETF during the 4th quarter worth $1,244,000. Integrated Advisors Network LLC purchased a new position in Sprott Uranium Miners ETF in the first quarter valued at about $792,000. Corecam AG lifted its position in shares of Sprott Uranium Miners ETF by 26.0% during the 1st quarter. Corecam AG now owns 70,560 shares of the company’s stock valued at $4,445,000 after buying an additional 14,560 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Sprott Uranium Miners ETF during the first quarter worth about $2,103,000.

About Sprott Uranium Miners ETF

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.