VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX – Get Free Report) reached a new 52-week low on Wednesday. The company traded as low as $61.84 and last traded at $61.8840, with a volume of 354032 shares. The stock had previously closed at $63.79.
VanEck Rare Earth and Strategic Metals ETF Price Performance
The firm has a fifty day simple moving average of $72.12 and a 200 day simple moving average of $84.25. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 5.66 and a beta of 1.31.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in REMX. Renaissancere Holdings Ltd. purchased a new stake in VanEck Rare Earth and Strategic Metals ETF during the 1st quarter worth approximately $46,905,000. CapWealth Advisors LLC purchased a new position in shares of VanEck Rare Earth and Strategic Metals ETF in the third quarter valued at approximately $12,679,000. Bank of America Corp DE boosted its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 72.1% in the first quarter. Bank of America Corp DE now owns 427,651 shares of the company’s stock worth $37,633,000 after acquiring an additional 179,182 shares during the last quarter. Asset One Wealth Management LLC acquired a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the fourth quarter worth approximately $6,989,000. Finally, Royal Bank of Canada boosted its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 45.6% in the first quarter. Royal Bank of Canada now owns 193,125 shares of the company’s stock worth $16,995,000 after acquiring an additional 60,459 shares during the last quarter.
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.
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