Uranium ETF

A uranium ETF is being offered.

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I was wondering when this would happen. Middlefield Capital is offering the sector's first Uranium ETF.

The funny (and interesting) thing is that this ETF will also pay a yield, initially set at 5% yield. I went to SEDAR to download the full prospectus (600Kb pdf file). This prospectus also contains some good background information on the uranium sector, and history of the uranium prices.

All 5 of the major Canadian banks, plus HSBC Canada, Dundee, Canaccord will be involved in underwriting this IPO, so this sounds pretty significant. Since the prospectus was filed with SEDAR, it's implied that the Uranium Fund will trade on the TSX - sorry, Americans, you're out of luck again (unless you have some good connections to a broker working at one of the major Canadian banks!)

That could also explain why every uranium company that I have been tracking in my uranium index is running up - it's being bought up for this ETF!