10:23 AM EDT, 03/13/2024 (MT Newswires) -- RBC Capital Markets said Tuesday that Sprott Physical Uranium Trust Fund (U-UN.TO)'s share price rose 3% week over week to $27.39.

RBC said the shares moved to a discount to net asset value of 10.2% this week from a 15.6% discount last week.

According to RBC, uranium spot prices declined to $91 per pound as buying interest waned among investor funds and utilities, placing pressure on uranium equities.

RBC also noted Japanese support for nuclear power when a court rejected a lawsuit seeking to shut down the Ikata 3 nuclear power plant, as well Italy's partnership with Ansaldo Nucleare to evaluate next-generation small modular reactors.

RBC added that the Netherlands also approved the construction of four new reactors while Sri Lanka launched formal evaluations to build the nation's first nuclear power plant.

Price: 27.31, Change: +0.11, Percent Change: +0.40