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

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) shares gapped down prior to trading on Monday . The stock had previously closed at $72.67, but opened at $70.35. VanEck Rare Earth and Strategic Metals ETF shares last traded at $69.85, with a volume of 124,218 shares.

VanEck Rare Earth and Strategic Metals ETF Stock Down 3.1%

The firm has a market capitalization of $2.11 billion, a PE ratio of 5.66 and a beta of 1.31. The stock’s fifty day simple moving average is $91.61 and its 200 day simple moving average is $91.78.

Institutional Investors Weigh In On VanEck Rare Earth and Strategic Metals ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Abound Wealth Management purchased a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the 2nd quarter worth $25,000. Sunbelt Securities Inc. purchased a new position in VanEck Rare Earth and Strategic Metals ETF during the fourth quarter valued at $25,000. Clearstead Advisors LLC bought a new stake in VanEck Rare Earth and Strategic Metals ETF during the fourth quarter valued at about $30,000. Comerica Bank bought a new stake in VanEck Rare Earth and Strategic Metals ETF during the first quarter valued at about $30,000. Finally, Sound Income Strategies LLC increased its position in VanEck Rare Earth and Strategic Metals ETF by 856.8% in the fourth quarter. Sound Income Strategies LLC now owns 421 shares of the company’s stock worth $31,000 after buying an additional 377 shares in 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.