Sprott Acquires Physical Uranium Fund as Uranium Bear Market Ends

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 […]

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