Short Interest in Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Increases By 658.1%

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 111,551 shares, a growth of 658.1% from the April 30th total of 14,715 shares. Approximately 8.3% of the company’s stock are short sold. Based on an average daily volume of 25,186 shares, the days-to-cover ratio is currently 4.4 days.

Global X Rare Earth & Critical Materials ETF Stock Up 0.5%

Shares of Global X Rare Earth & Critical Materials ETF stock traded up $0.15 during trading on Thursday, reaching $32.53. The company’s stock had a trading volume of 14,102 shares, compared to its average volume of 32,941. The company has a market cap of $43.92 million, a price-to-earnings ratio of -4,742.67 and a beta of 0.97. Global X Rare Earth & Critical Materials ETF has a 1-year low of $14.91 and a 1-year high of $36.92. The company has a 50-day simple moving average of $31.54 and a two-hundred day simple moving average of $30.35.

Institutional Trading of Global X Rare Earth & Critical Materials ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Global X Rare Earth & Critical Materials ETF by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,663 shares of the company’s stock worth $192,000 after acquiring an additional 957 shares during the period. Cetera Investment Advisers lifted its position in Global X Rare Earth & Critical Materials ETF by 11.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,005 shares of the company’s stock worth $198,000 after acquiring an additional 1,199 shares during the period. Jane Street Group LLC acquired a new stake in Global X Rare Earth & Critical Materials ETF during the 4th quarter worth about $295,000. Truist Financial Corp acquired a new stake in Global X Rare Earth & Critical Materials ETF during the 3rd quarter worth about $311,000. Finally, Flow Traders U.S. LLC acquired a new stake in Global X Rare Earth & Critical Materials ETF during the 2nd quarter worth about $326,000. Institutional investors and hedge funds own 5.34% of the company’s stock.

Global X Rare Earth & Critical Materials ETF Company Profile

The Global X Rare Earth & Critical Materials ETF seeks to invest in companies that produce rare earth components, metals, and other raw or composite materials essential to the expansion of critical technologies—such as electric vehicles, energy storage, robotics, and radar systems. Targeted companies include those involved in the exploration, mining, production, and/or enhancement of materials like rare earth elements, lithium, copper, cobalt, nickel, manganese, graphite, zinc, platinum, palladium, and carbon fiber.