Van Eck Global Releases Nuclear Energy ETF
Think nuclear energy is a great investment? Then read on and take a closer look at the Market Vectors Nuclear Energy ETF (NLR).
Fund Breakdown
NLR is a exchange traded fund, or ETF, that tracks the performance of the Daxglobal Nuclear Energy Index. NLR went public on August 15th, 2007 and is still quite small in size, boasting a market cap of only $14 million. The ETF averages just over 88,000 shares traded a day in volume, and today closed at $40.55.
Top Holdings
According the to the fund homepage NLR’s top 8 holdings as of October 31st, 2007 are:
1. Mitsubishi Heavy (MIH)
2. Uranium One (A9Y)
3. Denison Mines Corp. (IUQ)
4. Energy Res. (EJ7)
5. Paladin Res (PUR)
6. Cameco Corp. (CJ6)
7. Kajima Corp (KAJ)
8. JGC Corp. (1963 JP)
If you don’t recognize any of the above names or symbols it is because the 97% of the total stocks owned by the fund are based internationally.
Management Fee
Yearly expense ratio is listed at 1.07% which is OK but really could be a bit lower.
Performance
Since its inception on 8/15/07 the fund is up 7.2% based on today’s close of $40.55.
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Or you could do what I did and invest in a nuclear engineering degree. Hah!
They probably subscribe to the Dines Letter! Mr. Dines is the famous investment newsletter writer and most of those companies listed as the top holdings are all recommendations of Mr. Dines. Mr. Dines has the best performing investment newsletter according to that one company that tracks investment newsletter returns (can’t remember the name!). Either way, he started getting excited about uranium in 2002 when it was $8 a pound. Uranium now trades between $100-$150 a pound, and he has made fortunes for a lot of people. He even mentioned now (since uranium had a recent drop) is a good time to get in but you must be careful about what company you invest in as many companies now have “uranium” in their name but no real uranium deposits. Go check out his site though, he’s the real deal. http://www.DinesLetter.com
I had never heard of this guy or his newsletter. Interested to read more, calling Uranium at $8 is pretty impressive