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 target 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 trading volume of 25,186 shares, the days-to-cover ratio is currently 4.4 days.

Global X Rare Earth & Critical Materials ETF Price Performance

NASDAQ EART traded up $0.15 during midday trading on Thursday, hitting $32.53. 14,102 shares of the company traded hands, compared to its average volume of 32,941. The company has a market cap of $43.92 million, a PE ratio of -4,742.67 and a beta of 0.97. The company’s 50-day simple moving average is $31.54 and its 200-day simple moving average is $30.35. Global X Rare Earth & Critical Materials ETF has a 52 week low of $14.91 and a 52 week high of $36.92.

Institutional Trading of Global X Rare Earth & Critical Materials ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its position in Global X Rare Earth & Critical Materials ETF by 867.0% during the 4th quarter. Cetera Investment Advisers now owns 111,329 shares of the company’s stock valued at $3,092,000 after acquiring an additional 99,816 shares in the last quarter. Royal Bank of Canada acquired a new stake in shares of Global X Rare Earth & Critical Materials ETF in the 4th quarter worth $3,332,000. Susquehanna International Group LLP acquired a new stake in shares of Global X Rare Earth & Critical Materials ETF in the 3rd quarter worth $368,000. Envestnet Asset Management Inc. boosted its position in shares of Global X Rare Earth & Critical Materials ETF by 103.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 23,715 shares of the company’s stock worth $575,000 after purchasing an additional 12,052 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new stake in shares of Global X Rare Earth & Critical Materials ETF in the 2nd quarter worth $326,000. Institutional investors 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.