Short Interest in Sprott Uranium Miners ETF (NYSEARCA:URNM) Declines By 51.1%

Sprott Uranium Miners ETF (NYSEARCA:URNM) was the target of a significant decrease in short interest in the month of 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 daily volume of 452,024 shares, the short-interest ratio is presently 1.1 days. Currently, 1.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Sprott Uranium Miners ETF

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

Sprott Uranium Miners ETF Price Performance

NYSEARCA:URNM opened at $48.77 on Friday. 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 business has a 50 day simple moving average of $56.75 and a 200-day simple moving average of $63.57. Sprott Uranium Miners ETF has a 1 year low of $43.10 and a 1 year high of $84.95.

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.