Uranium ETFs were on the rise Wednesday as they joined the stock market in a broader rally. The stock market was up today for a few reasons. The biggest reason is the signing of a two-week ceasefire agreement between the U.S. and Iran.
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This ceasefire agreement also includes a plan between the two countries that will hopefully result in an end to their conflict. Part of this agreement includes the reopening of the Strait of Hormuz, which has been closed due to the attacks. The closing of this shipping route blocked off a large portion of the world’s oil supply, which caused prices across several markets to increase.
The latest update suggests that this ceasefire agreement could be in danger of falling apart. Israel launched an attack against Lebanon, which prompted Iran to close the Strait of Hormuz again. This shows the situation is still hostile and a peace agreement may not be reached. President Donald Trump also commented on this news, saying that the country wasn’t “included in the deal.”
Uranium ETFs Rally Today
Here’s how today’s news affected uranium ETFs.
- Sprott Junior Uranium Miners ETF (URNJ) was up 5.05% today.
- Global X Uranium ETF (URA) rallied 6.86% on Wednesday.
- NorthShore Global Uranium Mining ETF (URNM) jumped 5.03% today.
- VanEck Uranium + Nuclear Energy ETF (NLR) climbed 4.38% today.
Uranium ETF Comparisons: Which ETF Is the Best Bet?
Turning to the TipRanks ETF comparison tool, traders can see which of these ETFs is the best investment. Sprott Junior Uranium Miners ETF currently stands out as the uranium ETF with the highest year-over-year gains at 142.05%, followed by Global X Uranium ETF at 139.93%, NorthShore Global Uranium Mining ETF at 123.52%, and VanEck Uranium + Nuclear Energy ETF at 99.43%.
