First Uranium-Mining ETF to Trade in New York, Global X Says

Bloomberg Businessweek reports trading will begin for the world’s first exchange-traded fund linked to uranium-mining companies in New York.

The top story is quoted as saying:

The ETF will track an index that consists of 23 miners and refiners including Cameco Corp., the world’s second-largest uranium producer, Uranium One Inc. and Paladin Energy Ltd., said Bruno del Ama, the chief executive officer of Global X. The shares will initially sell for $15 each, and the ticker for the fund listed on the NYSE Arca stock exchange will be URA, he said.

Bruno del Ama, the CEO of Global X says:

“There are a lot of nuclear reactors being built around the world, and there’s already a short supply of uranium,” del Ama said. “With new demand coming into play, that’s going to increase prices of uranium, and obviously the mining companies that produce uranium are going to benefit tremendously from that.”

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