Sprott Uranium Miners ETF (NYSEARCA:URNM) Sees Significant Drop in Short Interest

Sprott Uranium Miners ETF (NYSEARCA:URNM) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 424,838 shares, a drop of 58.8% from the April 15th total of 1,031,882 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 683,196 shares, the short-interest ratio is currently 0.6 days.

Sprott Uranium Miners ETF Stock Down 3.8%

Shares of URNM stock opened at $60.15 on Friday. The company has a 50 day moving average of $64.95 and a 200-day moving average of $63.81. The firm has a market cap of $2.17 billion, a P/E ratio of 7.69 and a beta of 0.93. Sprott Uranium Miners ETF has a 12-month low of $35.93 and a 12-month high of $84.95.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of URNM. Knuff & Co LLC purchased a new position in Sprott Uranium Miners ETF in the 4th quarter valued at approximately $31,000. Longview Financial Advisors Inc. purchased a new position in Sprott Uranium Miners ETF in the 1st quarter valued at approximately $32,000. Fifth Third Bancorp purchased a new position in Sprott Uranium Miners ETF in the 3rd quarter valued at approximately $33,000. Waverly Advisors LLC bought a new position in Sprott Uranium Miners ETF in the 1st quarter valued at $34,000. Finally, Caitlin John LLC bought a new position in Sprott Uranium Miners ETF in the 3rd quarter valued at $41,000.

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.