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

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 43,245 shares, an increase of 510.5% from the July 30th total of 7,084 shares. Based on an average trading volume of 19,475 shares, the days-to-cover ratio is currently 2.2 days. Currently, 3.0% of the shares of the company are short sold.

Institutional Trading of Global X Rare Earth & Critical Materials ETF

Several large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its position in shares of Global X Rare Earth & Critical Materials ETF by 8.9% during 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 shares of Global X Rare Earth & Critical Materials ETF by 11.1% in the 2nd quarter. Cetera Investment Advisers now owns 12,005 shares of the company’s stock worth $198,000 after purchasing an additional 1,199 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Global X Rare Earth & Critical Materials ETF in the 4th quarter worth $295,000. Susquehanna International Group LLP bought a new position in Global X Rare Earth & Critical Materials ETF in the 3rd quarter worth $368,000. Finally, D.A. Davidson & CO. bought a new position in Global X Rare Earth & Critical Materials ETF in the 1st quarter worth $641,000. 5.34% of the stock is currently owned by institutional investors.

Global X Rare Earth & Critical Materials ETF Stock Performance

Shares of NASDAQ:EART opened at $31.75 on Wednesday. The stock’s 50-day simple moving average is $28.78 and its two-hundred day simple moving average is $30.90. The stock has a market capitalization of $45.40 million, a price-to-earnings ratio of -4,628.95 and a beta of 0.97. Global X Rare Earth & Critical Materials ETF has a 52-week low of $20.12 and a 52-week high of $36.92.

Global X Rare Earth & Critical Materials ETF Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 29th were paid a $0.137 dividend. The ex-dividend date was Monday, June 29th. Global X Rare Earth & Critical Materials ETF’s dividend payout ratio is -2,624.29%.

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.