Sprott Uranium Miners ETF (NYSEARCA:URNM) Sees Significant Growth in Short Interest
by Tristan Rich · The Markets DailySprott Uranium Miners ETF (NYSEARCA:URNM – Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,587,267 shares, an increase of 60.9% from the August 15th total of 986,663 shares. Currently, 4.4% of the company’s shares are short sold. Based on an average daily trading volume, of 809,341 shares, the days-to-cover ratio is currently 2.0 days.
Hedge Funds Weigh In On Sprott Uranium Miners ETF
Large investors have recently modified their holdings of the company. Menlo Advisors LLC grew its holdings in shares of Sprott Uranium Miners ETF by 0.4% during the second quarter. Menlo Advisors LLC now owns 86,674 shares of the company’s stock valued at $4,558,000 after buying an additional 370 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Sprott Uranium Miners ETF by 11.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,725 shares of the company’s stock worth $354,000 after acquiring an additional 693 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Sprott Uranium Miners ETF by 81.8% in the 2nd quarter. Tidal Investments LLC now owns 17,893 shares of the company’s stock worth $941,000 after acquiring an additional 8,053 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Sprott Uranium Miners ETF in the 2nd quarter valued at about $107,000. Finally, IFP Advisors Inc boosted its stake in Sprott Uranium Miners ETF by 43.7% during the 2nd quarter. IFP Advisors Inc now owns 10,300 shares of the company’s stock valued at $542,000 after purchasing an additional 3,132 shares during the last quarter.
Sprott Uranium Miners ETF Stock Up 2.2%
Sprott Uranium Miners ETF stock opened at $51.31 on Friday. Sprott Uranium Miners ETF has a 12-month low of $46.82 and a 12-month high of $84.95. The firm’s fifty day moving average is $53.42 and its 200 day moving average is $58.68. The company has a market capitalization of $1.87 billion, a PE ratio of 7.69 and a beta of 0.94.
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.