VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Reaches New 12-Month Low – Time to Sell?

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) shares reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $61.84 and last traded at $61.8840, with a volume of 354032 shares traded. The stock had previously closed at $63.79.

VanEck Rare Earth and Strategic Metals ETF Price Performance

The firm’s 50-day moving average price is $72.29 and its 200-day moving average price is $84.53. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 5.66 and a beta of 1.31.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in REMX. Abound Wealth Management purchased a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the second quarter worth about $25,000. NBH Bank purchased a new position in VanEck Rare Earth and Strategic Metals ETF in the 2nd quarter worth approximately $25,000. Capital Analysts LLC boosted its holdings in VanEck Rare Earth and Strategic Metals ETF by 94.4% in the 2nd quarter. Capital Analysts LLC now owns 348 shares of the company’s stock worth $31,000 after acquiring an additional 169 shares during the period. Consultiva Wealth Management CORP. acquired a new stake in VanEck Rare Earth and Strategic Metals ETF in the fourth quarter valued at approximately $37,000. Finally, Sound Income Strategies LLC raised its stake in shares of VanEck Rare Earth and Strategic Metals ETF by 49.6% during the first quarter. Sound Income Strategies LLC now owns 630 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the period.

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.