Oversea Chinese Banking Corp Ltd has significantly increased its investment in the Global X Uranium ETF (NYSEARCA: URA). According to the latest disclosure with the Securities and Exchange Commission, the institutional investor raised its holdings by an impressive 2,372.0% during the first quarter of the year. This surge brought their total to 656,634 shares, following the purchase of an additional 630,071 shares.
At the conclusion of this reporting period, Oversea Chinese Banking Corp Ltd held approximately 0.58% of the Global X Uranium ETF, valued at around $15,050,000. This move reflects a growing interest in uranium investments, which have gained traction due to increasing demand for nuclear energy.
Several other hedge funds have also adjusted their positions in the Global X Uranium ETF recently. Wealthcare Advisory Partners LLC increased its holdings by 4.2%, acquiring an additional 478 shares to reach a total of 11,787 shares, valued at $270,000. Peak Financial Advisors LLC followed suit with a 0.8% increase, now owning 65,770 shares worth $1,507,000 after adding 491 shares.
Walkner Condon Financial Advisors LLC also raised its stake by 3.3%, now holding 20,723 shares valued at $475,000, after acquiring 660 additional shares. In the previous quarter, Aptus Capital Advisors LLC made a substantial increase of 88.5%, bringing its total holdings to 1,485 shares, valued at $41,000, following an acquisition of 697 shares. Tidemark LLC increased its holdings by 18.7% during the fourth quarter, now owning 4,964 shares valued at $133,000 after buying an additional 783 shares.
The performance of the Global X Uranium ETF has shown notable fluctuations. It opened at $37.51 on Monday, with a one-year low of $19.50 and a high of $39.30. The ETF currently has a market cap of $3.73 billion, a price-to-earnings (PE) ratio of 37.39, and a beta of 1.09. Its 50-day moving average stands at $33.49, while the 200-day moving average is significantly lower at $28.40.
The Global X Uranium ETF, launched on November 4, 2010, primarily invests in companies involved in uranium mining and the production of nuclear components. Managed by Global X, the ETF aims to provide investors with exposure to a sector that many believe will play a critical role in future energy solutions.
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