How a Less-Than Six-Month-Old Fund Shook the Nuclear Fuel Market
- Sprott Physical Uranium Trust has swelled to $1.9 billion
- Traders say Canadian fund creating more price transparency
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Six months ago, the Sprott Physical Uranium Trust didn’t exist. Now it holds almost a third of the world’s annual supply -- and it’s getting bigger.
The fund’s arrival and explosive growth is sending waves through the market for nuclear fuels and has helped spur a 50% rally in uranium this year. Sprott reports that its assets have swelled to $1.9 billion, forcing the product to almost double its financing limit two weeks ago to $3.5 billion -- the second time it’s had to raise it in two months.