VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Sets New 52-Week High – Here’s Why

Shares of VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $80.25 and last traded at $79.22, with a volume of 4361713 shares. The stock had previously closed at $69.47.

VanEck Rare Earth and Strategic Metals ETF Stock Performance

The stock has a fifty day simple moving average of $62.24 and a 200-day simple moving average of $48.26. The stock has a market cap of $1.22 billion, a P/E ratio of 5.66 and a beta of 1.39.

Hedge Funds Weigh In On VanEck Rare Earth and Strategic Metals ETF

A number of large investors have recently added to or reduced their stakes in REMX. Janney Montgomery Scott LLC bought a new position in VanEck Rare Earth and Strategic Metals ETF during the 1st quarter worth about $245,000. SBI Securities Co. Ltd. increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 20.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,719 shares of the company’s stock worth $107,000 after purchasing an additional 459 shares in the last quarter. Fortis Group Advisors LLC bought a new position in VanEck Rare Earth and Strategic Metals ETF during the 1st quarter worth about $1,604,000. Cetera Investment Advisers increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 199.7% during the 1st quarter. Cetera Investment Advisers now owns 19,429 shares of the company’s stock worth $768,000 after purchasing an additional 12,946 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 16.8% in the 1st quarter. LPL Financial LLC now owns 234,500 shares of the company’s stock valued at $9,270,000 after acquiring an additional 33,701 shares in 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.