Six months ago, the Sprott Physical Uranium Trust didn’t exist. Now it holds almost a third of the world’s annual supply — and it’s getting bigger.
The fund’s arrival and explosive growth is sending waves through the market for nuclear fuels and has helped spur a 50% rally in uranium this year. Sprott reports that its assets have swelled to $1.9 billion, forcing the product to almost double its financing limit two weeks ago to $3.5 billion — the second time it’s had to raise it in two months.
Behind the surge is a race to bet on a nuclear future, with everyone from hedge funds to day traders jumping on board. The Canadian-listed trust, which launched in July, is the only publicly listed fund in North America that invests in physical uranium.
“I don’t know how many regular people would know how to even make a uranium play,” said Bloomberg Intelligence’s […]
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