Van Eck has changed the name of the firm’s nuclear exchange traded fund to the Market Vectors Uranium+Nuclear ETF (NLR).
The new name was selected to communicate to investors the relative weight of the uranium mining sub-sector among the seven nuclear energy sub-sectors represented in the DAXglobal® Nuclear Energy Index.
In addition to companies engaged in uranium mining, the ETF offers exposure to companies involved with uranium enrichment, uranium storage, equipment for nuclear energy generation, nuclear plant infrastructure, nuclear fuel transportation and nuclear energy generation. Uranium mining is the largest of these seven sectors, accounting for approximately 39% of NLR’s total market capitalization as of December 31, 2010. The balance of the Fund is diversified across the remaining six nuclear energy sub-sectors.
NLR has attracted $260 million in assets and carries a net expense ratio of 0.62%.
The trading symbol, NLR, remains unchanged.