Defiance ETFs is introducing a new leveraged commodity ETF called the Defiance Daily Target 2X Long Uranium ETF (NYSE Arca: URAX), which is expected to begin trading today.
As the name suggests, the fund seeks to provide daily investment results of two times (200%) the daily percentage change (before fees and expenses) in the share price of the Global X Uranium ETF (NYSE Arca: URA). Much like Defiance ETFs’ other 2X offerings, URAX offers leveraged exposure to the market — in this case, the uranium market — on a daily basis.
The new ETF signifies that, as Eric Balchunas put it, this “category has arrived,” signaling growing interest in the uranium sector, which could influence market sentiment and attract more investors to nuclear-related companies.
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