Sprott Uranium Miners ETF (NYSEARCA:URNM) Hits New 1-Year Low – Here’s Why

Sprott Uranium Miners ETF (NYSEARCA:URNM)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $31.93 and last traded at $33.52, with a volume of 846427 shares trading hands. The stock had previously closed at $32.66.

Sprott Uranium Miners ETF Stock Performance

The company’s fifty day simple moving average is $39.68 and its two-hundred day simple moving average is $43.26. The stock has a market capitalization of $1.24 billion, a PE ratio of 7.86 and a beta of 1.11.

Hedge Funds Weigh In On Sprott Uranium Miners ETF

Several hedge funds have recently added to or reduced their stakes in URNM. LFA Lugano Financial Advisors SA purchased a new position in Sprott Uranium Miners ETF during the 4th quarter valued at about $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Sprott Uranium Miners ETF during the third quarter worth about $65,000. US Bancorp DE grew its holdings in shares of Sprott Uranium Miners ETF by 17.9% during the fourth quarter. US Bancorp DE now owns 2,358 shares of the company’s stock worth $95,000 after buying an additional 358 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Sprott Uranium Miners ETF during the fourth quarter worth about $115,000. Finally, Natixis grew its holdings in shares of Sprott Uranium Miners ETF by 21.5% during the fourth quarter. Natixis now owns 4,194 shares of the company’s stock worth $168,000 after buying an additional 741 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.