VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Sets New 12-Month High – Still a Buy?

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $107.14 and last traded at $106.42, with a volume of 133052 shares changing hands. The stock had previously closed at $103.83.

VanEck Rare Earth and Strategic Metals ETF Trading Up 4.8%

The stock has a market capitalization of $3.15 billion, a PE ratio of 5.66 and a beta of 1.33. The company’s 50-day moving average is $94.08 and its 200 day moving average is $83.86.

Hedge Funds 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. Money Concepts Capital Corp raised its position in shares of VanEck Rare Earth and Strategic Metals ETF by 2.5% in the 1st quarter. Money Concepts Capital Corp now owns 7,608 shares of the company’s stock valued at $670,000 after purchasing an additional 188 shares during the last quarter. Uhlmann Price Securities LLC raised its position in shares of VanEck Rare Earth and Strategic Metals ETF by 4.0% in the 3rd quarter. Uhlmann Price Securities LLC now owns 5,405 shares of the company’s stock valued at $356,000 after purchasing an additional 208 shares during the last quarter. Sound Income Strategies LLC increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 49.6% in the 1st quarter. Sound Income Strategies LLC now owns 630 shares of the company’s stock worth $56,000 after buying an additional 209 shares during the period. LexAurum Advisors LLC increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 4.8% in the 3rd quarter. LexAurum Advisors LLC now owns 5,247 shares of the company’s stock worth $345,000 after buying an additional 239 shares during the period. Finally, Quantum Portfolio Management LLC increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 5.6% in the 1st quarter. Quantum Portfolio Management LLC now owns 5,208 shares of the company’s stock worth $458,000 after buying an additional 276 shares during the period.

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.