![]() ![]() The NorthShore Global Uranium Mining ETF has jumped 75%. ![]() Canadian giant Cameco’s shares are up 54% since the mutual fund made its debut, while NexGen Energy is up 68%. Uranium miners’ shares are ascending alongside the commodity’s rally. Last Friday, the fund increased its authorized issuance by another $1 billion to meet investor demand. It started an at-the-market equity issuance of $300 million in mid-August and in less than a month raised $244.7 million. ![]() The fund, Sprott Physical Uranium Trust, began trading on the Toronto Stock Exchange on July 19. The immediate catalyst seems to be a Canadian mutual fund that has started loading up on the commodity. Spot uranium oxide prices are up more than 60% since mid-July and reached $42.50 per pound on Friday, the highest since 2014.
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