As for the potential for further short-covering that could boost URA, USEC and Paladin Energy remain the most shorted uranium stocks. Those stocks combine for almost 18.5% of URA’s weight.
“Positive investor sentiment towards the industry is evidenced by a trend towards short covering across the 24 stocks in the S&P Global Nuclear index. Average short interest is 1.8% of the total shares on loan, down from 2.7% a year ago,” according to Markit.
Global X Uranium ETF
ETF Trends editorial team contributed to this post.