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- Last November it appeared retail investors were beginning to tip the scales in the physical uranium market.
- Newly introduced Sprott Uranium Trust (OTCPK:SRUUF) units allowed retail investors to indirectly purchase physical uranium; the trust acquired ~52m lbs of uranium in the past nine months, or around a quarter of global, annual demand.
- Thursday, Caxton Associates, a multi-billion dollar macro hedge fund, filed to disclose that the company owns over 18m of the Trust's 209m units.
- With Cameco (CCJ) calling for an inflection in the contracting cycle, and Congress looking to ban ~1/3 of the world's uranium supply (URA), it may be that hedge funds are sensing an opportunity to squeeze prices higher before selling to price-insensitive utilities.