Sprott Physical Uranium Trust
NAV
NAV Daily Change
NAV Since Inception Change
Management Expense Ratio**
Market Price
Premium/Discount
Total lbs of U3O8
Total Net Asset Value
Overview
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.
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Why Invest in U.UN?
- The World's Largest Physical Uranium Fund*
- Experienced Commodity Fund Manager & Uranium Technical Advisor
- Liquid and Convenient Way to Own Physical Uranium
- Transparent Daily Reporting of Net Asset and Holdings
- 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) |
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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** |
0.71% |
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Featured Insight
Uranium Markets Shake Off Summer Doldrums
The uranium market has faced short-term volatility, including price declines driven by geopolitical tensions and economic concerns. Despite these challenges, the long-term outlook remains strong. Supply uncertainties from key producers like Kazakhstan and Russia are contributing to this volatility, but the fundamental supply-demand imbalance suggests further growth potential.
Pricing
Previous Close TSX U.U ($US)
Net Asset Value per Unit | $20.29 |
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Previous Market Price Close | $20.21 |
Premium/Discount | -0.38% |
Units Outstanding | 268,152,028 |
Total Pounds of U3O8 held within Trust* | 65,711,826 |
Market Value of Uranium held by Trust | $5,407,886,110 |
Total Net Asset Value of Trust | $5,440,115,430 |
*Based on trade date.
Previous Close TSX U.UN ($CA)
Net Asset Value per Unit | $27.51 |
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Previous Closing Market Price | $27.39 |
Premium/Discount | -0.43% |
Today's Pricing TSX U.U ($US)
The market is now closed
Today's Pricing TSX U.UN ($CA)
The market is now closed
Watch this video to learn incredible facts about uranium’s interplanetary origins and to understand its critical role in the burgeoning green energy economy.
Performance
Total Returns (% $US) as of August 31, 2024
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1 MO* | YTD* | 1 YR | Since Inception1 |
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U.U (NAV)** | -7.63 | -13.68 | 28.94 | 30.95 | |||
U.U (Market Price)** | -2.19 | -14.13 | 24.34 | 29.74 | |||
Benchmark: Spot Uranium Price1 | -7.62 | -13.31 | 30.25 | 33.02 |
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1 MO* | YTD* | 1 YR | Since Inception1 |
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U.U (NAV)** | -7.63 | -13.68 | 28.94 | 132.48 | |||
U.U (Market Price)** | -2.19 | -14.13 | 24.34 | 125.68 | |||
Benchmark: Spot Uranium Price1 | -7.62 | -13.31 | 30.25 | 144.17 |
2023 | -- | -- | -- | |
U.U (NAV)** | 86.30 | -- | -- | -- |
U.U (Market Price)** | 82.05 | -- | -- | -- |
Benchmark: Spot Uranium Price1 | 88.54 | -- | -- | -- |
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.
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.
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 |
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.
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 Oct 4, 2024
CY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
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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).
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.
Source: Cameco Corporation. Excerpt from a 2016 episode of How It's Made - a Discovery Communications televised program.
Uranium Held
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.
Pound per Unit
U.U |
1 unit = 0.2451 Pounds of U3O8 in $US |
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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.
Literature
Fact Sheet
Sprott Monthly Uranium Report
- 9/2024 - Uranium Markets Shake Off Summer Doldrums
- 7/2024 - Uranium Case Strengthens
- 6/2024 - Uranium Miners Lead Market Higher
- 4/2024 - Miners Ignore Softer Uranium Price
- 3/2024 - Uranium Bull Market Takes a Healthy Pause
- 2/2024 - Uranium Price Returns to Triple Digits
- 12/2023 - What a Year for Uranium and Nuclear Energy
- 11/2023 - Uranium & Nuclear Get Boost from COP28
- 10/2023 - Higher Uranium Prices Allow Miners to Resume Production
- 9/2023 - Uranium Rally Gains Power in September
- 8/2023 - Strong Fundamentals Anchor Uranium's Rise
- 7/2023 - Stars are Aligning for Uranium and Nuclear Energy
- 6/2023 - Supply-Demand Gap Ignites Uranium Rally
- 5/2023 - Uranium Remains Resilient, While Threats of Nationalism Rattle Equities
- 4/2023 - Uranium’s April Breakthrough
- 3/2023 - Uranium Proves Resilient in March
- 2/2023 - Uranium‘s Mixed February
- 1/2023 - Uranium‘s January Jump
Investor Presentation
Regulatory Documents
- Annual Information Form
- Annual Report & MRFP
- Management Information Circular
- Short Form Base Shelf Prospectus
- Prospectus Supplement
- IRC Report
- IRC Report - French
Quarterly Portfolio Disclosure
Financial Statements & Management Reports of Fund Performance
6/30/2024 | Second Quarter Report & MRFP |
Press Releases
- 1/3/2024
Sprott Physical Uranium Trust Announces Updated “At-the-Market” Equity Program - 12/29/2023
Sprott Physical Uranium Trust Announces Filing of New US$1.5 Billion Preliminary Base Shelf Prospectus and Results of Consideration of Structural Changes - 11/20/2023
Sprott Physical Uranium Trust Net Asset Value Reaches $5.0 Billion - 11/20/2023
Sprott Physical Uranium Trust Announces Updated “At-the-Market” Equity Program - 9/5/2023
Sprott Physical Uranium Trust Announces Filing of New Preliminary Base Shelf Prospectus and Consideration of Structural Changes
Nuclear radiation exposure is minimal compared to the many sources of radiation we could come across in our daily lives. ~80% of an average person’s annual radiation exposure comes from natural sources, such as sunlight, soil and water, while ~18% comes from man-made sources such as computers, cell phones and x-rays. Less than only 1% comes from the nuclear industry, including uranium exploration and mining.
Source: U3O8 Corporation. May not add up to 100% due to rounding.
Tax & Resources
PFIC Statements
“PFIC” stands for “Passive Foreign Investment Company.” A foreign corporation such as the Sprott Physical Uranium Trust will be treated as a PFIC for any taxable year if either of the following is true: (a) more than 75% of its gross income is from passive sources or (b) at least 50% of its assets are held for the production of passive income.
Sign-up to have your annual PFIC statements delivered to you electronically.
Tax Guide and Forms for U.S. Investors
- Sprott Physical Uranium Trust - 2023 Tax Guide for U.S. Investors (2023 Tax Year)
- PFIC Form 2023
- PFIC Form 2022
- Letter to Unitholders
- PFIC Form 2021
- PFIC Form 2021 UPC
- Form 8937
- IRS Form 8621
- Instructions for IRS Form 8621
Tax Forms for U.K. Investors
How to Purchase
Sprott Physical Uranium Trust
Ticker Symbols | U.U ($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
Financial Advisors and Individual Investors
Telephone: 888.622.1813
Email: uranium@sprott.com
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
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.