This ASX-traded ETF provides Australian investors with diversified exposure to leading global uranium stocks, including those on the ASX, with NexGen (4.5%) the largest ASX holding. Members must understand this is a volatile space and positions should be sized accordingly, although it’s nothing compared with the likes of Deep Yellow (ASX: DYL) and Boss Energy (ASX: BOE), who’ve both endured far steeper corrections in the last 12-months. Hence, this more diversified ETF, which currently holds close to 50 stocks, has merit to play the nuclear adoption thematic without running the risk of a specific company.
The world’s most sophisticated Big-Tech companies continue to turn to nuclear to fuel their AI ambitions, with Microsoft, Google and Amazon all committing serious capital to Small Modular Reactors (SMRs) — a new generation of factory-built nuclear units designed to be deployed in years, not decades. We continue to believe that when the smartest capital allocators on the planet start moving in the same direction, it’s worth paying attention.
- We like the URNM after its latest sharp pullback, wanting to stay long the uranium sector until further notice.
MM is bullish towards the URNM ETF below $11
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