Uranium ETF position closed stop loss reached

Brad Holland

Brad has over 20 years experience in the Australian and US equities and options markets. Brad specialises in equities and options for capital growth, income generation and capital protection. He also specialises in finding opportunities in small to medium cap stocks. Brad holds RG146 - Securities & Managed Investments and Accredited Derivatives Adviser Level 2 qualifications.

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February 23, 2024

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High Conviction Report | URNM.AX

On Wednesday the stop loss on the second half of the Beta shares Global Uranium ETF (URNM) was reached and the last 500 shares sold at $9.50.

The recent moves in the URNM share price show the importance of always having a stop loss in place on positions, especially for commodity-based ETFs or shares. When the price of the underlying commodity changes share prices can react quickly to either the upside or downside.

Uranium is still a vital commodity in the global move to net zero emissions. It is only natural for a commodity that has increased over 100% in price over the last 12 months to run into some selling pressure. We will consider another position in URNM in the future when the next upswing in the uranium price begins.

Closed position Result

Number of Shares Purchased: 1,000

Initial buy price: $6.49

1^st Exit: 500 shares @ $8.88

2^nd Exit: 500 shares at $9.50

Average Exit Price: $9.419

Position closed for a Profit of $2,700 or an 41.60% return on funds invested

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.