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Uranium ETFs Are Mixed as the War In Iran Continues
Uranium ETFs saw mixed movement on Monday as investors remain unsure about the investment vehicles in light of the ongoing war with Iran. While President Donald Trump has said he doesn’t expect the war to last long, he’s also taken action to reopen and secure oil from the Middle East. This might suggest that the President is prepared for a more drawn-out battle.
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While there have been moves to reduce oil production in the U.S., some legal problems have arisen. This includes court blocks that would prevent the restart of some drilling operations in California. This means that energy and fuel prices could continue to rally, despite President Trump’s dedication to keeping these prices in check.
Uranium ETFs are in the middle of this, as nuclear energy has become a hot topic around the world. Many countries, the U.S. included, have made moves to return to nuclear power as part of a recent renaissance. Unfortunately, it takes time to build nuclear reactors, and there is also red tape to deal with from regulators. This means it will be several years before new plans for nuclear power facilities result in tangible benefits for consumers.
Uranium ETF Movements Today
All of the factors mentioned above have led to mixed movement for uranium ETFs today.
Global X Uranium ETF URA +1.22% ▲ was up 0.12% this afternoon.
NorthShore Global Uranium Mining ETF URNM +0.44% ▲ was down 0.55% as of this writing.
Sprott Junior Uranium Miners ETF URNJ -1.35% ▼ experienced the largest drop today at 2.28%.
VanEck Uranium + Nuclear Energy ETF NLR +0.68% ▲ was largely flat with only a slight 0.02% decline on Monday.
Which Uranium ETF Is the Safest Investment?
Turning to the TipRanks ETF comparison tool, traders can weigh these uranium ETFs against one another. A favorite among traders in this sector is Global X Uranium ETF, which has AUM of $7.11 billion, an expense ratio of 0.69%, and a dividend yield of 4.23%. URA has also seen the largest year-over-year gains among these uranium ETFs at 100.04%.
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