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

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

VanEck Rare Earth and Strategic Metals ETF Stock Up 4.8%

The company has a fifty day moving average price of $66.97 and a 200 day moving average price of $83.98. The stock has a market cap of $1.56 billion, a PE ratio of 5.66 and a beta of 1.31.

Institutional Trading of VanEck Rare Earth and Strategic Metals ETF

Several large investors have recently modified their holdings of the business. Renaissancere Holdings Ltd. purchased a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the 1st quarter worth about $46,905,000. Bank of America Corp DE lifted its position in VanEck Rare Earth and Strategic Metals ETF by 72.1% during the first quarter. Bank of America Corp DE now owns 427,651 shares of the company’s stock valued at $37,633,000 after buying an additional 179,182 shares during the period. Royal Bank of Canada boosted 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 valued at $16,995,000 after buying an additional 60,459 shares in the last quarter. CapWealth Advisors LLC purchased a new position in VanEck Rare Earth and Strategic Metals ETF during the 3rd quarter valued at about $12,679,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in VanEck Rare Earth and Strategic Metals ETF by 9.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 114,439 shares of the company’s stock worth $10,128,000 after acquiring an additional 9,898 shares in 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.