May 11, 2007 at 7:33 am by Tom Lydon
Now that there’s a uranium futures contract, the question is, when will we see a uranium exchange traded fund (ETF)? Richard Kang of The Beta Brief reports the price of uranium has doubled every year for the past several years and even had a 33% rise in recent months. As the new futures contracts develop there is high probability an ETF provider is considering a uranium ETF.
Tags: Metals
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May 13th, 2007 at 12:47 pm
Hello,
But an Uranium ETF already exists ! You’ll find it on the Toronto Stock Exchange.
Symbol : U.TSX (Uranium Participation Corp)
Beware, it’s in Canadian dollars.
Just have an glance at this page for details :
http://finance.google.com/finance?q=TSE%3AU
In a recent edition, The Financial Times wrote about UxConsulting and Nymex uranium futures, talking about TWO uranium ETFs.
But I’ve never heard about the second one. Is you have any clue…
Emmanuel
May 14th, 2007 at 3:24 pm
Thanks Emmanuel for your comment. There will probably be some demand domestically for a uranium ETF as metal demand continues to remain high.
May 21st, 2007 at 5:21 pm
BTW, here is the second “ETF”. In fact not really an ETF, like UPC, but a company which invests all its assets in physical uranium.
Nufcor Uranium, London-listed, AIM : NU.L, Isin : GB00B16L0B41. Currency : GBP.
http://finance.google.com/finance?q=NU.l&hl=en
UPC was launched in 2005, Nufcor Uranium in 2006.
Who’se next ???
May 22nd, 2007 at 1:06 pm
United States Enrichment corp (symbol USU) tends to follow uranium prices, but at an accelerated rate. It’s had a HUGE runup in the past three months (over 60%!!!). It is a US government granted monopoly. No one else in the US can enrich, and ALL us nuclear utilities MUST buy USEC enriched uranium, by law. If you own a nuke plant, you only have one supplier of enriched uranium. There’s no competition (again, by federal law). There’s an indentured hundred customers who have no choice.
How ‘Bout Dat!!! Invest in a monopoly established by the US Govt. How can one get a better deal than that?