VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Short Interest Up 84.9% in May

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) was the target of a significant increase in short interest during 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 company’s stock are sold short.

Institutional Trading of VanEck Rare Earth and Strategic Metals ETF

A number of hedge funds and other institutional investors have recently modified their holdings of REMX. Compound Planning Inc. acquired a new position in VanEck Rare Earth and Strategic Metals ETF in the third quarter valued at approximately $549,000. Wealthcare Capital Partners LLC acquired a new position in VanEck Rare Earth and Strategic Metals ETF in the fourth quarter valued at approximately $480,000. Leo Wealth LLC acquired a new position in VanEck Rare Earth and Strategic Metals ETF in the fourth quarter valued at approximately $483,000. HighTower Advisors LLC grew its stake in VanEck Rare Earth and Strategic Metals ETF by 78.4% during the 4th quarter. HighTower Advisors LLC now owns 15,289 shares of the company’s stock worth $1,130,000 after buying an additional 6,718 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new position in VanEck Rare Earth and Strategic Metals ETF during the 3rd quarter worth $1,772,000.

VanEck Rare Earth and Strategic Metals ETF Stock Performance

Shares of NYSEARCA REMX traded down $0.11 during midday trading on Tuesday, reaching $96.78. 664,325 shares of the company’s stock were exchanged, compared to its average volume of 1,350,395. VanEck Rare Earth and Strategic Metals ETF has a 52-week low of $38.35 and a 52-week high of $111.55. The stock has a market capitalization of $2.80 billion, a PE ratio of 5.66 and a beta of 1.29. The business’s fifty day moving average price is $98.09 and its two-hundred day moving average price is $89.69.

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.