Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Sees Large Decrease in Short Interest

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 27,763 shares, a decline of 75.1% from the May 14th total of 111,551 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 16,770 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On Global X Rare Earth & Critical Materials ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its stake in shares of Global X Rare Earth & Critical Materials ETF by 8.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,663 shares of the company’s stock valued at $192,000 after acquiring an additional 957 shares during the period. Cetera Investment Advisers increased its stake in Global X Rare Earth & Critical Materials ETF by 11.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,005 shares of the company’s stock worth $198,000 after buying an additional 1,199 shares during the period. Jane Street Group LLC purchased a new stake in Global X Rare Earth & Critical Materials ETF during the 4th quarter worth approximately $295,000. Truist Financial Corp purchased a new stake in Global X Rare Earth & Critical Materials ETF during the 3rd quarter worth approximately $311,000. Finally, Flow Traders U.S. LLC purchased a new stake in Global X Rare Earth & Critical Materials ETF during the 2nd quarter worth approximately $326,000. 5.34% of the stock is owned by hedge funds and other institutional investors.

Global X Rare Earth & Critical Materials ETF Stock Up 3.2%

NASDAQ:EART traded up $0.96 on Friday, hitting $31.30. The stock had a trading volume of 14,798 shares, compared to its average volume of 31,593. The stock has a market cap of $42.26 million, a price-to-earnings ratio of -4,563.35 and a beta of 0.95. The company has a fifty day moving average price of $32.06 and a two-hundred day moving average price of $30.89. Global X Rare Earth & Critical Materials ETF has a 1-year low of $15.62 and a 1-year high of $36.92.

About Global X Rare Earth & Critical Materials ETF

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.