VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX – Get Free Report) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 1,588,789 shares, an increase of 84.9% from the May 14th total of 859,424 shares. Based on an average trading volume of 1,030,367 shares, the days-to-cover ratio is presently 1.5 days. Currently, 5.5% of the shares of the stock are short sold.
VanEck Rare Earth and Strategic Metals ETF Trading Up 2.8%
Shares of NYSEARCA:REMX traded up $2.71 on Monday, reaching $98.21. 295,426 shares of the company were exchanged, compared to its average volume of 1,345,703. The company has a 50-day moving average of $97.93 and a 200-day moving average of $89.52. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 5.66 and a beta of 1.29. VanEck Rare Earth and Strategic Metals ETF has a 1-year low of $38.35 and a 1-year high of $111.55.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank purchased a new stake in shares of VanEck Rare Earth and Strategic Metals ETF during the 1st quarter worth approximately $30,000. Royal Bank of Canada increased its stake in VanEck Rare Earth and Strategic Metals ETF by 1.8% in the 1st 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. raised its holdings in VanEck Rare Earth and Strategic Metals ETF by 74.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 890 shares of the company’s stock worth $36,000 after purchasing an additional 379 shares during the last quarter. Jane Street Group LLC raised its holdings in VanEck Rare Earth and Strategic Metals ETF by 93.5% during the second 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 boosted its position in VanEck Rare Earth and Strategic Metals ETF by 183.3% during the second 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 in the last quarter.
VanEck Rare Earth and Strategic Metals ETF Company Profile
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.
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