VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Sets New 12-Month High – Here’s What Happened

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) reached a new 52-week high on Monday . The stock traded as high as $102.59 and last traded at $102.20, with a volume of 692616 shares trading hands. The stock had previously closed at $99.86.

VanEck Rare Earth and Strategic Metals ETF Price Performance

The firm has a 50 day moving average of $88.18 and a 200-day moving average of $75.04. The stock has a market capitalization of $2.88 billion, a P/E ratio of 5.66 and a beta of 1.41.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. LPL Financial LLC boosted its stake in VanEck Rare Earth and Strategic Metals ETF by 121.6% during the fourth quarter. LPL Financial LLC now owns 598,454 shares of the company’s stock worth $44,238,000 after buying an additional 328,393 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 104.2% during 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 during the period. Bank of America Corp DE boosted its position in shares of VanEck Rare Earth and Strategic Metals ETF by 183.3% during the 2nd quarter. Bank of America Corp DE now owns 253,106 shares of the company’s stock valued at $10,271,000 after acquiring an additional 163,753 shares in the last quarter. Wells Fargo & Company MN increased its stake in VanEck Rare Earth and Strategic Metals ETF by 99.1% in the fourth 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 period. Finally, UBS Group AG increased its stake in VanEck Rare Earth and Strategic Metals ETF by 191.1% in the fourth 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 period.

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.