Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Short Interest Update

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 111,551 shares, an increase of 658.1% from the April 30th total of 14,715 shares. Currently, 8.3% of the shares of the company 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 Down 1.3%

Shares of Global X Rare Earth & Critical Materials ETF stock opened at $32.41 on Friday. Global X Rare Earth & Critical Materials ETF has a 52-week low of $14.91 and a 52-week high of $36.92. The company’s 50-day simple moving average is $31.61 and its 200-day simple moving average is $30.43. The firm has a market cap of $43.75 million, a price-to-earnings ratio of -4,725.18 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EART. Envestnet Asset Management Inc. increased its stake in shares of Global X Rare Earth & Critical Materials ETF by 8.9% during the second 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 increased its stake in shares of Global X Rare Earth & Critical Materials ETF by 11.1% during the second 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 position in shares of Global X Rare Earth & Critical Materials ETF during the fourth quarter worth about $295,000. Truist Financial Corp acquired a new position in shares of Global X Rare Earth & Critical Materials ETF during the third quarter worth about $311,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Global X Rare Earth & Critical Materials ETF during the second quarter worth about $326,000. 5.34% of the stock is currently owned by institutional investors and hedge funds.

About Global X Rare Earth & Critical Materials ETF

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.