Sprott Uranium Miners ETF (NYSEARCA:URNM) Shares Down 5.8% – What’s Next?

Sprott Uranium Miners ETF (NYSEARCA:URNM)’s share price dropped 5.8% on Friday . The stock traded as low as $57.30 and last traded at $57.49. Approximately 407,873 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 773,130 shares. The stock had previously closed at $61.05.

Sprott Uranium Miners ETF Trading Down 7.2%

The stock has a 50 day simple moving average of $53.08 and a 200-day simple moving average of $60.47. The firm has a market cap of $2.06 billion, a PE ratio of 7.69 and a beta of 0.93.

Institutional Trading of Sprott Uranium Miners ETF

Several institutional investors have recently made changes to their positions in URNM. Anatole Investment Management Ltd lifted its holdings in Sprott Uranium Miners ETF by 61.1% in the 3rd quarter. Anatole Investment Management Ltd now owns 1,363,508 shares of the company’s stock worth $82,397,000 after purchasing an additional 517,208 shares in the last quarter. Group One Trading LLC purchased a new stake in Sprott Uranium Miners ETF during the 1st quarter valued at approximately $36,523,000. LPL Financial LLC grew its holdings in Sprott Uranium Miners ETF by 2.2% during the 4th quarter. LPL Financial LLC now owns 276,252 shares of the company’s stock valued at $15,163,000 after buying an additional 5,884 shares in the last quarter. Cumberland Partners Ltd bought a new stake in shares of Sprott Uranium Miners ETF during the fourth quarter valued at approximately $12,334,000. Finally, Acorn Financial Advisory Services Inc. ADV bought a new stake in shares of Sprott Uranium Miners ETF during the first quarter valued at approximately $13,258,000.

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.