Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Trading 4.6% Higher – Time to Buy?

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) shares rose 4.6% during trading on Friday . The company traded as high as $31.69 and last traded at $31.69. Approximately 20,690 shares changed hands during trading, a decline of 25% from the average daily volume of 27,446 shares. The stock had previously closed at $30.30.

Global X Rare Earth & Critical Materials ETF Price Performance

The stock has a fifty day moving average price of $28.80 and a two-hundred day moving average price of $30.92. The company has a market cap of $45.32 million, a P/E ratio of -4,620.21 and a beta of 0.97.

Global X Rare Earth & Critical Materials ETF Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 29th were given a $0.137 dividend. The ex-dividend date of this dividend was Monday, June 29th. Global X Rare Earth & Critical Materials ETF’s dividend payout ratio is presently -2,624.29%.

Hedge Funds Weigh In On Global X Rare Earth & Critical Materials ETF

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in shares of Global X Rare Earth & Critical Materials ETF by 8.9% during the second quarter. Envestnet Asset Management Inc. now owns 11,663 shares of the company’s stock valued at $192,000 after purchasing an additional 957 shares in the last quarter. Cetera Investment Advisers increased its stake in Global X Rare Earth & Critical Materials ETF by 11.1% in the 2nd quarter. Cetera Investment Advisers now owns 12,005 shares of the company’s stock valued at $198,000 after buying an additional 1,199 shares during the last quarter. Jane Street Group LLC purchased a new stake in Global X Rare Earth & Critical Materials ETF in the 4th quarter valued at about $295,000. Flow Traders U.S. LLC bought a new position in shares of Global X Rare Earth & Critical Materials ETF during the 2nd quarter worth approximately $326,000. Finally, Susquehanna International Group LLP bought a new position in shares of Global X Rare Earth & Critical Materials ETF during the 3rd quarter worth approximately $368,000. 5.34% of the stock is owned by hedge funds and other institutional investors.

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.