In 2020, Russia exported about 6% of the world’s uranium, while Ukraine supplied about 1.5 percent of the global supply. The VanEck Uranium+Nuclear Energy ETF (NLR) has risen only 7.34% this year, thanks to significant allocations in energy utilities with nuclear reactors rather than pure-play uranium mining businesses.
British Prime Minister Boris Johnson unveiled plans to increase the use of nuclear power in the UK from 16 per cent of its current electricity mix to a quarter, including the replacement of six reactors that have been retired due to age.
Last week, the White House hosted a symposium to examine the commercial viability of nuclear fusion as a fossil fuel alternative.
URA has received just under $450 million in assets this month, bringing its total assets under administration to $1.8 billion as of Monday, while URNM added $171 million, bringing its total assets under management to $989 million . They represent 33% and 21% profit respectively.
However, profits pale in comparison to the triple-digit returns the fund earned after temporarily becoming a meme stock last October.