VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Hits New 1-Year Low – Here’s What Happened

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX)’s share price reached a new 52-week low on Monday. The stock traded as low as $50.62 and last traded at $51.85, with a volume of 662,950 shares. The stock had previously closed at $51.46.

VanEck Rare Earth and Strategic Metals ETF Trading Up 0.2%

The stock has a 50 day simple moving average of $67.94 and a 200 day simple moving average of $81.79. The stock has a market cap of $1.49 billion, a P/E ratio of 5.66 and a beta of 1.31.

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

A number of large investors have recently modified their holdings of REMX. Renaissancere Holdings Ltd. bought a new position in shares of VanEck Rare Earth and Strategic Metals ETF during the 1st quarter worth approximately $46,905,000. Bank of America Corp DE increased its stake in VanEck Rare Earth and Strategic Metals ETF by 72.1% in the 1st quarter. Bank of America Corp DE now owns 427,651 shares of the company’s stock worth $37,633,000 after acquiring an additional 179,182 shares during the last quarter. CapWealth Advisors LLC bought a new stake in VanEck Rare Earth and Strategic Metals ETF during the third quarter valued at approximately $12,679,000. Royal Bank of Canada lifted its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 45.6% during the 1st quarter. Royal Bank of Canada now owns 193,125 shares of the company’s stock worth $16,995,000 after acquiring an additional 60,459 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 9.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 114,439 shares of the company’s stock worth $10,128,000 after purchasing an additional 9,898 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.