VanEck Increases Nano Nuclear Stake by 27% as Micro-Reactor Progresses

VanEck Associates Corp increased its position in Nano Nuclear Energy Inc. (NNE) by 26.9% during the second quarter. The institutional investor purchased an additional 810,022 shares. This brings VanEck's total ownership to 3,819,847 shares.

The stake is valued at approximately $80.75 million. VanEck now controls roughly 7.11% of the company. Other major institutions, including Vanguard Group and UBS Group AG, have also recently expanded their holdings in Nano Nuclear.

Nano Nuclear is currently advancing its KRONOS micro modular reactor. The company is preparing to submit a construction permit application to the Nuclear Regulatory Commission (NRC).