Short Interest in Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Declines By 75.1%

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 27,763 shares, a decrease of 75.1% from the May 14th total of 111,551 shares. Based on an average daily volume of 16,770 shares, the short-interest ratio is currently 1.7 days. Currently, 2.1% of the shares of the stock are sold short.

Institutional Trading of Global X Rare Earth & Critical Materials ETF

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in Global X Rare Earth & Critical Materials ETF in the 4th quarter valued at about $295,000. Envestnet Asset Management Inc. increased its holdings in shares of Global X Rare Earth & Critical Materials ETF by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,663 shares of the company’s stock worth $192,000 after buying an additional 957 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Global X Rare Earth & Critical Materials ETF by 11.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,005 shares of the company’s stock worth $198,000 after buying an additional 1,199 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Global X Rare Earth & Critical Materials ETF during the 3rd quarter worth approximately $311,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Global X Rare Earth & Critical Materials ETF during the 3rd quarter worth approximately $368,000. Institutional investors and hedge funds own 5.34% of the company’s stock.

Global X Rare Earth & Critical Materials ETF Trading Up 3.2%

EART stock traded up $0.96 during mid-day trading on Friday, reaching $31.30. The company’s stock had a trading volume of 14,798 shares, compared to its average volume of 31,593. The stock has a market cap of $42.26 million, a PE ratio of -4,563.35 and a beta of 0.95. Global X Rare Earth & Critical Materials ETF has a fifty-two week low of $15.62 and a fifty-two week high of $36.92. The company’s 50 day moving average is $32.06 and its two-hundred day moving average is $30.89.

About Global X Rare Earth & Critical Materials ETF

The Global X Rare Earth & Critical Materials ETF seeks to invest in companies that produce rare earth components, metals, and other raw or composite materials essential to the expansion of critical technologies—such as electric vehicles, energy storage, robotics, and radar systems. Targeted companies include those involved in the exploration, mining, production, and/or enhancement of materials like rare earth elements, lithium, copper, cobalt, nickel, manganese, graphite, zinc, platinum, palladium, and carbon fiber.