Sprott Uranium Miners ETF (NYSEARCA:URNM) Trading Down 5.8% – Here’s Why

Sprott Uranium Miners ETF (NYSEARCA:URNM) shares fell 5.8% on Friday . The stock traded as low as $57.30 and last traded at $57.49. 407,873 shares traded hands during trading, a decline of 47% from the average daily volume of 773,130 shares. The stock had previously closed at $61.05.

Sprott Uranium Miners ETF Stock Performance

The company has a market capitalization of $2.06 billion, a P/E ratio of 7.69 and a beta of 0.93. The business’s fifty day simple moving average is $53.08 and its 200-day simple moving average is $60.47.

Hedge Funds Weigh In On Sprott Uranium Miners ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in Sprott Uranium Miners ETF by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,853 shares of the company’s stock worth $266,000 after purchasing an additional 161 shares during the last quarter. Caitlin John LLC lifted its position in Sprott Uranium Miners ETF by 25.9% during the fourth quarter. Caitlin John LLC now owns 850 shares of the company’s stock valued at $47,000 after purchasing an additional 175 shares during the last quarter. Truist Financial Corp lifted its position in Sprott Uranium Miners ETF by 2.2% during the fourth quarter. Truist Financial Corp now owns 9,484 shares of the company’s stock valued at $521,000 after purchasing an additional 200 shares during the last quarter. Seelaus Asset Management LLC grew its stake in shares of Sprott Uranium Miners ETF by 1.9% in the 4th quarter. Seelaus Asset Management LLC now owns 11,985 shares of the company’s stock worth $658,000 after buying an additional 220 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Sprott Uranium Miners ETF by 1.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 16,490 shares of the company’s stock worth $867,000 after buying an additional 220 shares in the last quarter.

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.