VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Short Interest Down 20.7% in February

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 984,144 shares, a decline of 20.7% from the February 12th total of 1,241,101 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 1,185,470 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 1,185,470 shares, the days-to-cover ratio is currently 0.8 days. Currently, 3.3% of the shares of the stock are sold short.

VanEck Rare Earth and Strategic Metals ETF Price Performance

Shares of REMX stock traded down $4.30 during trading hours on Friday, hitting $89.51. 847,067 shares of the company’s stock were exchanged, compared to its average volume of 1,702,933. VanEck Rare Earth and Strategic Metals ETF has a 52 week low of $32.36 and a 52 week high of $103.68. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 5.66 and a beta of 1.41. The stock’s 50-day moving average is $91.26 and its 200-day moving average is $76.92.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF during the fourth quarter worth approximately $25,000. MAI Capital Management acquired a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the second quarter valued at approximately $30,000. Clearstead Advisors LLC acquired a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the fourth quarter valued at approximately $30,000. Comerica Bank bought a new position in VanEck Rare Earth and Strategic Metals ETF in the 1st quarter worth approximately $30,000. Finally, Sound Income Strategies LLC raised its position in VanEck Rare Earth and Strategic Metals ETF by 856.8% in the 4th quarter. Sound Income Strategies LLC now owns 421 shares of the company’s stock worth $31,000 after purchasing an additional 377 shares during the last quarter.

VanEck Rare Earth and Strategic Metals ETF Company 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.