Nitrogeon. If you perform a basic analysis of the URA ETF data you will see that the fund's exposure to each of the 23 companies (or is it 22, can't remember) in the fund has increased by exactly the same amount in percentage terms. To say that the ETF has taken this position "in PEN because they see its enormous potential" is complete rubbish. Furthermore, the managers of the URA ETF don't "see" anything. They are sheep, just like all index trackers and have a mandate that does not allow for deviation. To quote the Global X website, "The Global X Uranium ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Uranium Total Return Index."
But you already knew that, surely?
You should all be surprised about the changing of the guard, because none of you saw it coming, despite the evidence being visible for at least 12 months. Sadly, that's what happens when you have your head in the sand for so long.
I see the new bloke as a better candidate than Mr Simpson, but I wouldn't call it bullish just yet.
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