Independent Financial Group LLC Takes $726,000 Position in VanEck Rare Earth and Strategic Metals ETF $REMX

Independent Financial Group LLC purchased a new position in shares of VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,247 shares of the company’s stock, valued at approximately $726,000.

A number of other hedge funds have also bought and sold shares of REMX. LPL Financial LLC increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 121.6% in the fourth quarter. LPL Financial LLC now owns 598,454 shares of the company’s stock valued at $44,238,000 after buying an additional 328,393 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of VanEck Rare Earth and Strategic Metals ETF by 104.2% in the 4th quarter. Quadrature Capital Ltd now owns 434,493 shares of the company’s stock worth $32,118,000 after acquiring an additional 221,698 shares in the last quarter. Bank of America Corp DE grew its position in shares of VanEck Rare Earth and Strategic Metals ETF by 183.3% in the 2nd quarter. Bank of America Corp DE now owns 253,106 shares of the company’s stock worth $10,271,000 after acquiring an additional 163,753 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 99.1% in the 4th quarter. Wells Fargo & Company MN now owns 234,514 shares of the company’s stock valued at $17,335,000 after acquiring an additional 116,710 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 191.1% in the 4th quarter. UBS Group AG now owns 213,309 shares of the company’s stock valued at $15,768,000 after acquiring an additional 140,044 shares during the last quarter.

VanEck Rare Earth and Strategic Metals ETF Trading Up 3.0%

REMX stock opened at $71.95 on Wednesday. The firm has a market cap of $2.16 billion, a P/E ratio of 5.66 and a beta of 1.31. VanEck Rare Earth and Strategic Metals ETF has a 12-month low of $48.46 and a 12-month high of $111.55. The stock’s 50 day simple moving average is $90.09 and its 200 day simple moving average is $91.74.

VanEck Rare Earth and Strategic Metals ETF Profile

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.