Sprott Uranium Miners ETF (NYSEARCA:URNM) Sees Large Volume Increase – Should You Buy?

Shares of Sprott Uranium Miners ETF (NYSEARCA:URNM) saw unusually-strong trading volume on Tuesday . Approximately 669,326 shares were traded during trading, a decline of 13% from the previous session’s volume of 770,838 shares.The stock last traded at $54.69 and had previously closed at $56.81.

Sprott Uranium Miners ETF Stock Performance

The company has a market cap of $2.00 billion, a price-to-earnings ratio of 7.69 and a beta of 0.93. The business’s 50 day moving average price is $53.08 and its 200-day moving average price is $60.26.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of URNM. Corient Private Wealth LP lifted its holdings in Sprott Uranium Miners ETF by 6.5% during the 2nd quarter. Corient Private Wealth LP now owns 6,119 shares of the company’s stock valued at $322,000 after purchasing an additional 372 shares during the last quarter. Tucker Asset Management LLC grew its holdings in Sprott Uranium Miners ETF by 9.5% during the 2nd quarter. Tucker Asset Management LLC now owns 13,770 shares of the company’s stock worth $724,000 after acquiring an additional 1,196 shares during the period. Ameritas Advisory Services LLC lifted its stake in Sprott Uranium Miners ETF by 63.9% in the second quarter. Ameritas Advisory Services LLC now owns 9,030 shares of the company’s stock valued at $475,000 after buying an additional 3,521 shares during the period. Compass Financial Management LLC bought a new position in Sprott Uranium Miners ETF during the 2nd quarter worth approximately $284,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Sprott Uranium Miners ETF by 1.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 16,490 shares of the company’s stock worth $867,000 after purchasing an additional 220 shares in the last quarter.

Sprott Uranium Miners ETF Company Profile

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.