Uranium ETF (URA) Hits New 52-Week High

For investors seeking momentum, Global X Uranium ETF URA is probably on radar. The fund just hit a 52-week high and is up 33.8% from its 52-week low price of $18.31/share.

But are more gains in store for this ETF? Lets take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

URA in Focus

The underlying Solactive Global Uranium & Nuclear Components Total Return Index seeks to track the price movements in shares of companies which are active in the uranium industry. The fund has allocations to the energy and industrial sectors, with share of 56.2% and 22.3%, respectively. The product charges 69 bps in annual fees (See:all Materials ETFs here).