Keeping an Eye on This ETF After Trump's Nuclear Power Move

As we get ready for Monday's set of Portfolio Office Hours, amid all the conversation about tariff de-escalation that is driving the market higher on the day, we want to make sure one item didn’t get lost in the shuffle.

According to multiple reports, the Trump administration is considering several executive orders aimed at speeding up the construction of nuclear power plants to help meet rising electricity demand. The executive orders would set a goal of quadrupling the size of the U.S. fleet of nuclear power plants, from nearly 100 gigawatts (GW) of electric capacity today to 400 GW by 2050.

Recently, nuclear developer Elementl Power announced a signed agreement with Google GOOGL to erect three project sites for "advanced nuclear energy." Last year, Google inked a deal with nuclear energy provider Kairos Power to "deploy a U.S. fleet of advanced nuclear power projects totaling 500 megawatts by 2035."

Last December, Meta META issued a call for nuclear developers to submit proposals to help the tech company add up to 4 GW of new nuclear power in the U.S.

That electricity pain point is one of the driving forces behind our position in Eaton ETN shares, and renewed talk of nuclear power over the last several months led us to establish a small position in the VanEck Uranium and Nuclear Power ETF NLR. Both are performing nicely for the Portfolio, and we have room to add to NLR shares should we see Trump move forward with such executive orders or if more Big Tech companies pursue nuclear power to address their power demands.

Either could lead us to revisit our current $74 pickup point for NLR shares.

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At the time of publication, TheStreet Pro Portfolio was long GOOGL, META, ETN and NLR.