Bringing you live news and features since 2006 

Sprott to use North Shore Global Uranium Mining Index

RELATED TOPICS​

Sprott Inc has announced that Sprott Asset Management LP has entered into a definitive agreement with North Shore Indices, Inc. to acquire an exclusive licence to use the North Shore Global Uranium Mining Index, the performance of which the North Shore Global Uranium Mining ETF (“URNM”), a series of Exchange Traded Concepts Trust (the “Trust”), seeks to track.
 
The firm writes that in connection with the Agreement, and subject to the approval of a reorganization by both the Board of Trustees of the Trust and shareholders of URNM, it is anticipated that URNM would be reorganised into a newly created series of the Sprott Funds Trust, the Sprott Uranium Miners ETF, which series will be advised by Sprott Asset Management and sub-advised by ALPS Advisors, Inc. Assuming the transaction is approved by the Board of Trustees of the Trust and the shareholders of URNM, the reorganisation is expected to close in the first quarter of 2022.
 
“We believe we are in the early stages of a uranium bull market and URNM is a perfect complement to the Sprott Physical Uranium Trust (“SPUT”), which is the world’s largest physical uranium fund,” says John Ciampaglia, CEO of Sprott Asset Management. “URNM is the only US-listed pure-play uranium equities ETF and we look forward to providing investors with two compelling options to invest in the sector.”
 
 

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Thomas Bonville, Clear Street
Just over a year ago, Thomas Bonville joined New York-based, prime brokerage Clear Street as managing director, head of derivative...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by