Direxion Unveils Uranium ETF With 200% Exposure: 'Unique Way To Make Short-Term Bets On the Nuclear Energy Industry'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 26 2024
0mins
Source: Benzinga
- Direxion Launches New Uranium ETF: Direxion introduced the Direxion Daily Uranium Industry Bull 2X Shares (URAA) ETF, aiming to provide traders with 200% daily performance of the Solactive United States Uranium and Nuclear Energy ETF Select Index.
- Market Trends: Uranium prices are at a 15-year high due to supply-demand gaps, encouraging further investment in the nuclear energy sector.
- ETF Holdings: URAA includes over 50 companies involved in uranium mining, nuclear energy production, and related services, offering leveraged exposure in a volatile market.
- Rising Demand for Uranium: Increasing demand from traditional nuclear power plants and new applications, along with a focus on clean energy solutions, is boosting uranium prices.
- Investment Opportunity and Risks: The URAA ETF may attract various investors seeking opportunities in the uranium and nuclear energy space, but caution is advised due to risks associated with leveraged ETFs.
Analyst Views on URAA
Wall Street analysts forecast URAA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for URAA is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 51.380
Low
Averages
High
Current: 51.380
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
