VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Reaches New 1-Year Low – Here’s What Happened

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) hit a new 52-week low during trading on Monday. The company traded as low as $53.71 and last traded at $53.5850, with a volume of 69,751 shares. The stock had previously closed at $54.23.

VanEck Rare Earth and Strategic Metals ETF Price Performance

The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 5.66 and a beta of 1.31. The business’s 50-day moving average price is $70.40 and its two-hundred day moving average price is $83.05.

Institutional Trading of VanEck Rare Earth and Strategic Metals ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaStar Capital Management LLC purchased a new stake in VanEck Rare Earth and Strategic Metals ETF in the third quarter valued at approximately $207,000. Vontobel Holding Ltd. acquired a new position in VanEck Rare Earth and Strategic Metals ETF during the third quarter worth approximately $1,990,000. HBW Advisory Services LLC raised its stake in VanEck Rare Earth and Strategic Metals ETF by 19.0% during the third quarter. HBW Advisory Services LLC now owns 71,857 shares of the company’s stock worth $4,618,000 after purchasing an additional 11,458 shares during the period. Mather Group LLC. purchased a new position in VanEck Rare Earth and Strategic Metals ETF during the third quarter worth approximately $215,000. Finally, Refined Wealth Management raised its stake in VanEck Rare Earth and Strategic Metals ETF by 4.2% during the third quarter. Refined Wealth Management now owns 40,000 shares of the company’s stock worth $2,570,000 after purchasing an additional 1,611 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.