Sprott Acquires Physical Uranium Fund as Uranium Bear Market Ends

In a move to offer investors access to spot uranium prices, Sprott Asset Management has taken over Uranium Participation Corporation (UPC), a physical uranium fund that trades in Toronto, relaunching it as the Sprott Physical Uranium Trust. The new trust will launch in late Q2 or Q3 of 2021.

Sprott also hopes to dual list the fund in the U.S., said Sprott CEO John Ciampaglia in a new interview with BNN Bloomberg .

“Uranium was in a long bear market, said Ciampaglia. “We believe that this bear market is over and that a new bull market is now underway.”

UPC was the first investment vehicle worldwide to offer exposure to the spot uranium price, said Ciampaglia, adding that, “we think it’s a natural fit and extension for Sprott to take over the management.”Currently, Sprott holds over $13 billion in physically backed precious metal funds. Ciampaglia notes that there is also a great […]

Click here to view original web page at www.etftrends.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.