VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Short Interest Down 31.3% in May

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 37,700 shares, a drop of 31.3% from the May 15th total of 54,900 shares. Based on an average daily volume of 177,900 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

VanEck Rare Earth and Strategic Metals ETF Stock Performance

Shares of REMX stock opened at $40.25 on Tuesday. The stock’s 50 day simple moving average is $38.01 and its 200 day simple moving average is $40.05. VanEck Rare Earth and Strategic Metals ETF has a twelve month low of $32.36 and a twelve month high of $51.10. The company has a market capitalization of $290.61 million, a price-to-earnings ratio of 19.68 and a beta of 1.43.

Institutional Investors Weigh In On VanEck Rare Earth and Strategic Metals ETF

A number of large investors have recently added to or reduced their stakes in the stock. Transce3nd LLC acquired a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the fourth quarter valued at about $30,000. Comerica Bank bought a new stake in VanEck Rare Earth and Strategic Metals ETF during the 1st quarter valued at approximately $30,000. Picton Mahoney Asset Management boosted its stake in VanEck Rare Earth and Strategic Metals ETF by 42.9% during the 1st quarter. Picton Mahoney Asset Management now owns 1,000 shares of the company’s stock valued at $40,000 after purchasing an additional 300 shares during the period. Banque Transatlantique SA acquired a new stake in VanEck Rare Earth and Strategic Metals ETF in the 1st quarter valued at approximately $77,000. Finally, SBI Securities Co. Ltd. bought a new position in VanEck Rare Earth and Strategic Metals ETF in the 4th quarter worth approximately $88,000.

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.