VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Shares Gap Down – Here’s What Happened

Shares of VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) gapped down prior to trading on Thursday . The stock had previously closed at $73.00, but opened at $70.60. VanEck Rare Earth and Strategic Metals ETF shares last traded at $70.10, with a volume of 392,018 shares changing hands.

VanEck Rare Earth and Strategic Metals ETF Trading Up 1.7%

The company has a market cap of $1.37 billion, a P/E ratio of 5.66 and a beta of 1.41. The company has a 50 day moving average price of $70.88 and a 200-day moving average price of $57.15.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd grew its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 602.3% during the 3rd quarter. Quadrature Capital Ltd now owns 212,795 shares of the company’s stock valued at $13,993,000 after purchasing an additional 182,497 shares during the last quarter. PFG Advisors acquired a new stake in VanEck Rare Earth and Strategic Metals ETF in the third quarter valued at approximately $11,005,000. Bank of America Corp DE grew its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 183.3% during the second quarter. Bank of America Corp DE now owns 253,106 shares of the company’s stock worth $10,271,000 after buying an additional 163,753 shares during the last quarter. Financial Sense Advisors Inc. acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF during the third quarter worth $8,965,000. Finally, Avalon Capital Management acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF during the third quarter worth $5,911,000.

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.