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Van Eck renames nuclear energy ETF

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Van Eck Global has changed the name of its nuclear energy exchange-traded fund (ETF) to the Market Vectors Uranium+Nuclear Energy ETF.

The new name was chosen to indicate to investors the relative weight of the uranium mining sub-sector among the seven nuclear energy sub-sectors represented in the DAXglobal Nuclear Energy Index. The Fund’s ticker symbol, NLR, remains unchanged.

Launched in August 2007, NLR seeks to replicate, before fees and expenses, the price and yield performance of the index. In addition to companies engaged in uranium mining, the fund offers exposure to companies involved with uranium enrichment, uranium storage, equipment for nuclear energy generation, nuclear plant infrastructure, nuclear fuel transportation and nuclear energy generation. Uranium mining is the largest of these seven sectors, accounting for approximately 39% of NLR’s total market capitalisation as of December 31, 2010. The balance of the Fund is diversified across the remaining six nuclear energy sub-sectors.
 

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