Short Interest in VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Decreases By 51.6%

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 696,476 shares, a decrease of 51.6% from the March 15th total of 1,439,904 shares. Based on an average daily volume of 1,095,824 shares, the short-interest ratio is currently 0.6 days. Currently, 2.4% of the company’s shares are sold short.

VanEck Rare Earth and Strategic Metals ETF Price Performance

Shares of NYSEARCA REMX traded up $4.51 during midday trading on Monday, reaching $99.01. 1,096,315 shares of the stock were exchanged, compared to its average volume of 1,488,339. The business has a 50-day simple moving average of $90.33 and a two-hundred day simple moving average of $80.79. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 5.66 and a beta of 1.28. VanEck Rare Earth and Strategic Metals ETF has a 12 month low of $35.72 and a 12 month high of $103.68.

Institutional Investors Weigh In On VanEck Rare Earth and Strategic Metals ETF

A number of hedge funds have recently modified their holdings of REMX. Comerica Bank acquired a new position in VanEck Rare Earth and Strategic Metals ETF in the 1st quarter worth $30,000. Royal Bank of Canada grew its stake in VanEck Rare Earth and Strategic Metals ETF by 1.8% in the first quarter. Royal Bank of Canada now owns 19,150 shares of the company’s stock valued at $757,000 after purchasing an additional 343 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 74.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 890 shares of the company’s stock valued at $36,000 after buying an additional 379 shares in the last quarter. Jane Street Group LLC increased its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 93.5% during the 2nd quarter. Jane Street Group LLC now owns 73,730 shares of the company’s stock worth $2,992,000 after purchasing an additional 35,635 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 183.3% during the 2nd quarter. Bank of America Corp DE now owns 253,106 shares of the company’s stock worth $10,271,000 after purchasing an additional 163,753 shares during the last quarter.

About VanEck Rare Earth and Strategic Metals ETF

The VanEck Rare Earth\u002FStrategic Metals ETF (REMX) is an exchange-traded fund that mostly invests in materials equity. The fund tracks an index of global companies that mine, refine, or recycle rare earth and strategic metals. REMX was launched on Oct 27, 2010 and is managed by VanEck.