Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Sees Significant Drop in Short Interest

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 51,211 shares, a decrease of 34.1% from the June 30th total of 77,735 shares. Approximately 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 17,517 shares, the days-to-cover ratio is currently 2.9 days.

Global X Rare Earth & Critical Materials ETF Stock Down 1.5%

Shares of Global X Rare Earth & Critical Materials ETF stock traded down $0.40 on Friday, reaching $26.84. The stock had a trading volume of 736 shares, compared to its average volume of 28,485. The stock has a market capitalization of $38.38 million, a P/E ratio of -3,913.11 and a beta of 0.97. Global X Rare Earth & Critical Materials ETF has a 1 year low of $17.57 and a 1 year high of $36.92. The company has a 50 day moving average price of $29.33 and a 200 day moving average price of $31.26.

Global X Rare Earth & Critical Materials ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 29th were given a dividend of $0.137 per share. 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%.

Institutional Trading of Global X Rare Earth & Critical Materials ETF

A number of institutional investors have recently made changes to their positions in EART. D.A. Davidson & CO. purchased a new position in Global X Rare Earth & Critical Materials ETF during the 1st quarter worth $641,000. Cetera Investment Advisers increased its holdings in shares of Global X Rare Earth & Critical Materials ETF by 867.0% during the fourth quarter. Cetera Investment Advisers now owns 111,329 shares of the company’s stock valued at $3,092,000 after acquiring an additional 99,816 shares in the last quarter. Royal Bank of Canada purchased a new position in shares of Global X Rare Earth & Critical Materials ETF in the 4th quarter valued at approximately $3,332,000. Jane Street Group LLC acquired a new stake in Global X Rare Earth & Critical Materials ETF in the 4th quarter worth approximately $295,000. Finally, Susquehanna International Group LLP acquired a new stake in Global X Rare Earth & Critical Materials ETF in the 3rd quarter worth approximately $368,000. Institutional investors and hedge funds own 5.34% of the company’s stock.

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.