Exchange-traded funds that provide investors exposure to uranium were down Tuesday in the wake of a military junta overthrowing the president of Niger, a...
Exchange-traded funds that provide investors exposure to uranium are falling Tuesday in the wake of a military junta overthrowing the president of Niger, a significant supplier of the metal, paring some of their sharp gains this week.
The Global X Uranium ETF URA was down 0.8% Tuesday afternoon, while the Sprott Uranium Miners ETF URNM fell 0.2%, according to FactSet data, at last check. But both funds have advanced sharply so far this week, with the Global X Uranium ETF up 2.5% and the Sprott Uranium Miners ETF climbing 3.6%. Members of Niger’s military staged a coup in the country in late July, with president Mohamed Bazoum being replaced by General Abdourahmane Tchiani, the Associated Press reported. The Washington Post reported on Monday “a group of West African nations has threatened military intervention in Niger if ousted President Mohamed Bazoum is not returned to power by Aug. 6.”
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