Sprott Physical Uranium Trust

as of 12/06/2024

NAV

$US18.92

NAV Daily Change

-$0.16
-0.84%

NAV Since Inception Change

+125.79%

Management Expense Ratio**

0.60%

Market Price

$US18.73

Premium/Discount

-1.01%

Total lbs of U3O8

66,220,326

Total Net Asset Value

$US5.11 Billion

Overview

Uranium Icon

Investment Objective

The Sprott Physical Uranium Trust invests and holds substantially all of its assets in uranium in the form of U3O8.

Goal

Provide a secure, convenient and exchange-traded investment alternative for investors interested in holding uranium.

  • Why Invest in U.UN?

    1. The World's Largest Physical Uranium Fund*
    2. Experienced Commodity Fund Manager & Uranium Technical Advisor
    3. Liquid and Convenient Way to Own Physical Uranium
    4. Transparent Daily Reporting of Net Asset and Holdings
    5. Low Fees

     

    *Based on Morningstar’s universe of listed commodity funds. Data as of 6/30/2024.

Key Facts

Toronto Stock Exchange (TSX) Tickers U.U ($US)
U.UN ($CA)
Inception Date July 19, 2021
Fund Type Closed-End Trust
CUSIP
ISIN
Manager Sprott Asset
Management LP
Technical Advisor WMC Energy 
Trustee RBC Investor Services
Auditor KPMG
Storage Providers
& Locations
Cameco (Canada);
ConverDyn (U.S.);
Orano (France)

Fees & Expenses

Management
Expense Ratio**
0.60%
**
Management Expense Ratio (MER) is based on total expenses (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of the average daily NAV for the period ended 6/30/2023.

Pricing

Uranium Icon

Previous Close TSX U.U ($US)

Net Asset Value per Unit $18.92
Previous Market Price Close $18.73
Premium/Discount -1.01%
Units Outstanding 269,868,528
Total Pounds of U3O8 held within Trust* 66,220,326
Market Value of Uranium held by Trust $5,087,376,513
Total Net Asset Value of Trust $5,106,251,750
(In U.S. Dollars. Data last updated Friday, December 6, 2024 6:00 PM EST)
*Based on trade date.

Previous Close TSX U.UN ($CA)

Net Asset Value per Unit $26.78
Previous Closing Market Price $26.22
Premium/Discount -2.08%
(In Canadian Dollars. Data last updated Friday, December 6, 2024 6:00 PM EST)

Today's Pricing TSX U.U ($US)

The market is now closed

Today's Pricing TSX U.UN ($CA)

The market is now closed

Sprott Uranium SPUT

Uranium: Born of the Stars

Watch this video to learn incredible facts about uranium’s interplanetary origins and to understand its critical role in the burgeoning green energy economy.​

Watch Video Now

Performance

Uranium Icon

Total Returns (% $US) as of September 30, 2024

 
  1 MO* YTD* 1 YR Since
Inception1
U.U (NAV)**
3.70 -10.49 10.78 31.53
U.U (Market Price)**
5.69 -9.25 13.31 31.09
Benchmark: Spot Uranium Price1
3.78 -10.04 11.68 33.61
Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. Call 888.622.1813 for current month end performance.
*
Not annualized.
**
The NAV performance calculation is based on the USD NAV and the market price performance calculation is based on the USD closing price on the TSX.
1
The uranium spot price is measured by a proprietary composite of U3O8 spot prices from TradeTech, UxC, S&P Platts and Numerco.
 
  1 MO* YTD* 1 YR Since
Inception1
U.U (NAV)**
3.70 -10.49 10.78 141.08
U.U (Market Price)**
5.69 -9.25 13.31 138.51
Benchmark: Spot Uranium Price1
3.78 -10.04 11.68 153.39
Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. Call 888.622.1813 for current month end performance.
*
Not annualized.
**
The NAV performance calculation is based on the USD NAV and the market price performance calculation is based on the USD closing price on the TSX.
1
The uranium spot price is measured by a proprietary composite of U3O8 spot prices from TradeTech, UxC, S&P Platts and Numerco.
Cumulative return is the return on the investment in total.
  2023 -- -- --
U.U (NAV)**
86.30 -- -- --
U.U (Market Price)**
82.05 -- -- --
Benchmark: Spot Uranium Price1
88.54 -- -- --
 
The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees, investment returns would have been reduced. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.
FPO Panel 2 Returns

 

Growth of $10,000 Since Inception

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Inception date: July 19, 2021.
The chart shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the Trust or returns on investment in the Trust.
Measuring Radiation Exposure

Radiation stemming from nuclear energy is far less when compared to activities not commonly associated with nuclear activities, such as flying on an airplane or interacting with more traditional energy sources.

Millirems of Radiation (mrem)
5,000 Annual U.S. regulatory radiation limit for an adult
500 One transcontinental round trip flight
360 Average person’s annual exposure from all sources
20 Living one year outside a coal plant
2 Living one year outside a nuclear power plant
Source: U3O8 Corporation.

Uranium Plant

Market Price vs. Net Asset Value Since Inception

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Inception date: July 19, 2021.

Historical Premium/Discount: Market Price to Net Asset Value

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Inception date: July 19, 2021.
 Sprott Info

What is a premium/discount?

The amount the Trust's closing price is trading above or below the reported NAV (net asset value), expressed as a percentage of the NAV. When the Trust's closing price is greater than the Trust's NAV, it is trading at a “premium” and the percentage is expressed as a positive number. When the Trust's closing price is less than the Trust's NAV, it is trading at a “discount” and the percentage is expressed as a negative number.

 

Frequency Distribution: Premium/Discount


Trading Days Each Quarter

Data updated as of Dec 8, 2024

  CY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Days Traded at Premium 24 0 5 0 --
Days Traded at Discount 226 62 59 63 --

The above table and line chart present information about the differences between the daily market price of a Trust unit and the Trust’s reported net asset value. The chart’s horizontal axis shows the premium or discount expressed in basis points. NAV performance calculation is based on the USD NAV and the market price performance calculation is based on the USD closing price on the TSX (usually 4:00 pm Eastern time).

 Education

Video: How It's Made - Uranium Part 1
Video: How It's Made - Uranium Part 2

Cameco explains how uranium is mined and milled in northern Saskatchewan.

Video: How It's Made - Uranium

Source: Cameco Corporation. Excerpt from a 2016 episode of How It's Made - a Discovery Communications televised program.

Is Nuclear an Investible ESG Asset?

Uranium Held

Uranium Icon

Total Pounds of Uranium (U3O8) Held by Trust


User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Source: Sprott, RBC Investor Services Trust.

Physical Uranium Calculator

Enter a specific number of Trust Units to estimate how much physical uranium they represent.

Please enter a quantity.
Pounds of U3O8 in $US *

Market Value of Units in $US *
Residual Amount in $US
Based on price of TSX: U.U at 12/06/2024 6:00PM
This calculator is designed to give you an idea of how much physical uranium is represented for a given amount of Units of the Sprott Physical Uranium Trust based on the latest available market price and net asset value. This calculator is for illustrative purposes only and should not be used to formulate transactions of any kind.

 

Pound per Unit

as of 12/06/2024
U.U 1 unit = 0.2454 Pounds of U3O8 in $US

Daily and Cumulative Pounds of Uranium (U3O8) Acquired by Trust


User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Source: Sprott, RBC Investor Services Trust.

URNM URNJ

 

Literature

Uranium Icon
Understanding Nuclear Radiation

Nuclear radiation exposure is minimal compared to the many sources of radiation we could come across in our daily lives. ~80% of an average person’s annual radiation exposure comes from natural sources, such as sunlight, soil and water, while ~18% comes from man-made sources such as computers, cell phones and x-rays. Less than only 1% comes from the nuclear industry, including uranium exploration and mining.

Radiation Chart

Source: U3O8 Corporation. May not add up to 100% due to rounding.

Tax & Resources

Uranium Icon

PFIC Statements

“PFIC” stands for “Passive Foreign Investment Company.” A foreign corporation such as the Sprott Physical Uranium Trust will be treated as a PFIC for any taxable year if either of the following is true: (a) more than 75% of its gross income is from passive sources or (b) at least 50% of its assets are held for the production of passive income.

Sign-up to have your annual PFIC statements delivered to you electronically.

Sprott Uranium Watch

Follow up-to-date news on Sprott Uranium Physical Trust and the compelling uranium/nuclear energy markets.

How to Purchase

Uranium Icon

Sprott Physical Uranium Trust

Ticker Symbols U.U ($US)
U.UN ($CA)
CUSIP 85210A104
ISIN CA85210A1049

Sprott Physical Uranium Trust units trade in both U.S. and Canadian dollars.

Trust units can be purchased or sold like any regular equity security through financial advisors, full-service brokers and discount brokers. Your units will be held in your name through the third-party financial professional. Units can be purchased or sold through Sprott Global Resource Investments, an affiliate of the Trusts, at 800.477.7853.

Contact Us

Uranium Icon

Financial Advisors and Individual Investors

Telephone: 888.622.1813
Email: uranium@sprott.com

Sprott Client Services Team

Institutional Investors

Contact: Glen Williams, Managing Director, Investor and Institutional Client Relations; Head of Corporate Communications, Sprott Inc.
Telephone: 416.943.4394
Email: gwilliams@sprott.com

 

Contact Us

Please contact the Sprott Team at 888.622.1813 for more information, or answers to your questions. You can also email us at uranium@sprott.com.


Investment Risks

Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S.

The Trusts are closed-end funds established under the laws of the Province of Ontario in Canada. PHYS, PSLV, CEF and SPPP are available to U.S. investors by way of listings on the NYSE Arca pursuant to the U.S. Securities Exchange Act of 1934. The Trusts are not registered as investment companies under the U.S. Investment Company Act of 1940.

Important Disclosure

The Sprott Physical Uranium Trust is generally exposed to the multiple risks that have been identified and described in the Management Information Circular and the Prospectus. Please refer to the Management Information Circular or the Prospectus for a description of these risks.

Forward Looking Statements
The above update contains forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). Forward-looking statements in this update include, without limitation, statements regarding expected future compliance with Rule 15-c-211 and the resumption of regular trading of the SRUUF ticker once OTC Markets confirms that the Trust has satisfied its public information eligibility requirements. With respect to the forward-looking statements contained in this update, the Trust has made numerous assumptions regarding, among other things: its ability to satisfy the requirement of the OTC Markets in a timely manner, or at all. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this update. A discussion of these and other risks and uncertainties facing the Trust appears in the Trust's continuous disclosure filings, which are available at www.sedar.com. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.

Past performance is not an indication of future results. All data is in U.S. dollars unless otherwise noted. The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on their specific circumstances before taking any action. Sprott Asset Management LP is the investment manager to the Sprott Physical Uranium Trust (the “Trust”). Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the Management Information Circular and the Prospectus. Please read the Management Information Circular and the Prospectus carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trusts on the Toronto Stock Exchange (“TSX”) or the New York Stock Exchange (“NYSE”). If the units are purchased or sold on the TSX or the NYSE, investors may pay more than the current net asset value when buying units or shares of the Trusts and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Sprott Asset Management LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell.

Important Message

You are now leaving Sprott.com and entering a linked website. Sprott has partnered with ALPS in offering Sprott ETFs. For fact sheets, marketing materials, prospectuses, performance, expense information and other details about the ETFs, you will be directed to the ALPS/Sprott website at SprottETFs.com.

Continue to Sprott Exchange Traded Funds

Important Message

You are now leaving sprott.com and linking to a third-party website. Sprott assumes no liability for the content of this linked site and the material it presents, including without limitation, the accuracy, subject matter, quality or timeliness of the content. The fact that this link has been provided does not constitute an endorsement, authorization, sponsorship by or affiliation with Sprott with respect to the linked site or the material.

Continue