VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Sets New 1-Year High – Still a Buy?

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) shares hit a new 52-week high on Monday . The company traded as high as $88.65 and last traded at $88.58, with a volume of 452627 shares trading hands. The stock had previously closed at $84.98.

VanEck Rare Earth and Strategic Metals ETF Trading Up 5.1%

The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 5.66 and a beta of 1.41. The firm’s fifty day moving average price is $72.87 and its 200 day moving average price is $63.96.

Institutional Trading of VanEck Rare Earth and Strategic Metals ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its position 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 purchasing an additional 163,753 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of VanEck Rare Earth and Strategic Metals ETF by 602.3% in the third 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 in the last quarter. PFG Advisors purchased a new stake in VanEck Rare Earth and Strategic Metals ETF during the 3rd quarter worth approximately $11,005,000. Financial Sense Advisors Inc. purchased a new position in VanEck Rare Earth and Strategic Metals ETF in the 3rd quarter valued at approximately $8,965,000. Finally, Avalon Capital Management acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF in the third quarter worth $5,911,000.

VanEck Rare Earth and Strategic Metals ETF Company Profile

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.