The price increase for URA is directly tied to Kazatomprom's announcement regarding the global uranium supply. As the world's largest producer of uranium, Kazatomprom's insights into uranium production are highly influential. Their forecast of a production shortfall suggests a potential increase in uranium prices, which benefits URA as it is invested in uranium and related companies. This news is likely to attract investor attention towards URA, anticipating that the ETF will benefit from rising uranium prices.