Uranium ETFs continued to fall on Friday as the market reacted to the ongoing conflict in Iran. A projectile landed in the area of the Bushehr nuclear power plant earlier this week, raising fears of a nuclear incident. The facility is undamaged and radiation levels are normal, but there have been extra calls from world powers to avoid attacks on nuclear power plants.
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The war in Iran has resurfaced concerns about the switch to nuclear power. While nuclear issues at power plants are extremely rare, they can happen in the face of major incidents. This includes strikes during wartime, or from natural disasters. With this reminder came worries that the switch to nuclear power could result in more of these risks.
Countries around the world continue to move forward with nuclear power plant plans despite these concerns. Several states in the U.S. are turning to nuclear power for data centers, which power AI. With the AI boom, there has been an increased need for data centers and the source of power for them.
Uranium ETFs Fall Today
Uranium ETFs took a beating on Friday amid nuclear power concerns.
- Global X Uranium ETF (URA) was down 2.36% this morning.
- NorthShore Global Uranium Mining ETF (URNM) fell 3.09% today.
- Sprott Junior Uranium Miners ETF (URNJ) dropped 2.81% as of this writing.
- VanEck Uranium + Nuclear Energy ETF (NLR) slipped 2.54% on Friday.
Uranium ETFs Comparison: Which Is the Best Investment?
Investors looking to take a stake in a Uranium ETF can use the TipRanks ETF comparison tool for more insight into the sector. A favorite among traders is Global X Uranium ETF, which has an AUM of $6.97 billion, an expense ratio of 0.69%, a dividend yield of 4.32%, and a year-over-year gain of 90.19%.
