Hi Zog, thank you for your excellent posts.
I think the real reason why Sprott Physical Uranium Trust and Yellowcake are in there at fairly large weightings is because Sprott has actually taken over the index provider for this ETF....see here:
https://www.sprott.com/investor-relations/press-releases/sprott-asset-management-announces-acquisition-of-assets-relating-to-the-north-shore-global-uranium-mining-etf/
Given they want to corner as much u308 as possible, it serves their interests well to have both their own physical trust as well as yellowcake included in the index at relatively high weights to increase the buying pressure and help lock up more pounds. Call me cynical
URNM ETF, page-15
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