Horizons ETFs has announced the launch of Horizons Global Uranium Index ETF, a new exchange traded fund that provides exposure to global uranium companies. Units of the ETF have begun trading on the Toronto Stock Exchange under the ticker symbol HURA.
HURA seeks to replicate the performance of the Solactive Global Uranium Pure-Play Index net of expenses. Horizons ETFs says HURA is the first ETF in Canada to provide direct exposure to the global uranium sector.
"Global mining ventures can carry significant investment risks. By investing through a diversified ETF like HURA, you can potentially achieve greater stability and risk-mitigation to your uranium-sector exposure," said Nick Piquard, Portfolio Manager and Options Strategist at Horizons ETFs. "Our global basket approach to the uranium sector provides access to production happening across the globe – from the world's largest in Kazakhstan to emerging mining operations in the United States."
Canada is the second-largest uranium producing country and is home to the world's largest publicly traded uranium company, Cameco.