Production / Operations

Changes to Index Tracked by Sprott Uranium Miners ETF (URNM)

By The Northwire Desk — AI Analysis Oct 17, 2025 · 08:00 SII · 124.22 SPROTT INC.

SII · Price

Sprott Asset Management USA announced substantive modifications to the North Shore Global Uranium Mining Index (URNMX), which underlies the Sprott Uranium Miners ETF (URNM).
New eligibility thresholds raise free‑float market‑cap minimums to $125 million for new securities and $100 million for existing holdings, and increase ADVT requirements to $100,000.
Index reconstitution dates shift to June and December, with additional quarterly rebalances added on the third Fridays of March and September; security weight caps rise from 15% to 20%, and minimum weight constraints are removed.

Eligibility – Market Capitalization:
New securities must have free‑float market cap ≥ $125 M (up from $40 M).
Existing constituents remain eligible with a buffer down to $100 M (previously $25 M).
Eligibility – Average Daily Value Traded (ADVT):
New securities must have ADVT ≥ $100,000 over the prior three months.
Existing holdings receive a buffer of $75,000 ADVT.
Constituent Count Requirement:
Minimum of 25 eligible securities. If fewer meet criteria at reconstitution, the index will lower the free‑float market‑cap threshold (in descending order) until 25 constituents are reached, while still meeting all other criteria.
Weighting Methodology Changes:
Switch to free‑float weighting for market‑cap eligibility determination.
Single security weight cap increased to 20% (previously 15%).
Minimum weight constraint eliminated.
Reconstitution & Rebalance Schedule:
Reconstitution dates moved to June and December (from March and September).
Quarterly rebalances added on the third Fridays of March and September.
Effective Date: Changes become effective at the next scheduled rebalance after market close on December 19, 2025.

(No direct quotes were provided in the release.)

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