Sprott Uranium Miners ETF (NYSEARCA:URNM) Reaches New 52-Week Low – Here’s Why

Shares of Sprott Uranium Miners ETF (NYSEARCA:URNM) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $44.17 and last traded at $44.51, with a volume of 1,008,233 shares trading hands. The stock had previously closed at $45.16.

Sprott Uranium Miners ETF Stock Performance

The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 7.69 and a beta of 1.09. The company has a fifty day simple moving average of $52.85 and a two-hundred day simple moving average of $56.54.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Group One Trading LLC bought a new stake in shares of Sprott Uranium Miners ETF during the first quarter valued at approximately $36,523,000. Acorn Financial Advisory Services Inc. ADV bought a new position in shares of Sprott Uranium Miners ETF in the 1st quarter worth $13,258,000. Royal Bank of Canada lifted its holdings in shares of Sprott Uranium Miners ETF by 1.1% in the 1st quarter. Royal Bank of Canada now owns 121,836 shares of the company’s stock worth $7,695,000 after purchasing an additional 1,320 shares in the last quarter. One Plus One Wealth Management LLC lifted its holdings in shares of Sprott Uranium Miners ETF by 53.3% in the 1st quarter. One Plus One Wealth Management LLC now owns 120,905 shares of the company’s stock worth $7,635,000 after purchasing an additional 42,062 shares in the last quarter. Finally, Brandywine Financial Group bought a new position in shares of Sprott Uranium Miners ETF in the 1st quarter worth $7,053,000.

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.