VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Sees Significant Growth in Short Interest

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) was the target of a significant increase in short interest in 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 daily trading volume, of 1,030,367 shares, the days-to-cover ratio is currently 1.5 days. Currently, 5.5% of the shares of the stock are sold short.

VanEck Rare Earth and Strategic Metals ETF Stock Up 2.8%

Shares of VanEck Rare Earth and Strategic Metals ETF stock traded up $2.71 on Monday, hitting $98.21. The company’s stock had a trading volume of 295,426 shares, compared to its average volume of 1,345,703. VanEck Rare Earth and Strategic Metals ETF has a 52-week low of $38.35 and a 52-week high of $111.55. The firm has a fifty day moving average price of $97.93 and a 200-day moving average price of $89.52. The company has a market capitalization of $2.84 billion, a P/E ratio of 5.66 and a beta of 1.29.

Institutional Trading of VanEck Rare Earth and Strategic Metals ETF

Several large investors have recently modified their holdings of REMX. Sunbelt Securities Inc. purchased a new stake in VanEck Rare Earth and Strategic Metals ETF in the 4th quarter valued at approximately $25,000. Clearstead Advisors LLC acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF in the fourth quarter worth $30,000. Comerica Bank acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF in the first quarter worth $30,000. Sound Income Strategies LLC lifted its position in shares of VanEck Rare Earth and Strategic Metals ETF by 856.8% in the fourth quarter. Sound Income Strategies LLC now owns 421 shares of the company’s stock valued at $31,000 after acquiring an additional 377 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the fourth quarter valued at $33,000.

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.