VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) Shares Gap Down – What’s Next?

VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) shares gapped down before the market opened on Monday . The stock had previously closed at $72.67, but opened at $70.35. VanEck Rare Earth and Strategic Metals ETF shares last traded at $69.85, with a volume of 124,218 shares trading hands.

VanEck Rare Earth and Strategic Metals ETF Price Performance

The business’s 50 day moving average price is $91.61 and its 200 day moving average price is $91.78. The stock has a market capitalization of $2.11 billion, a P/E ratio of 5.66 and a beta of 1.31.

Institutional Investors Weigh In On VanEck Rare Earth and Strategic Metals ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Abound Wealth Management bought a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the second quarter worth $25,000. Sunbelt Securities Inc. purchased a new position in VanEck Rare Earth and Strategic Metals ETF in the fourth quarter worth about $25,000. Clearstead Advisors LLC bought a new stake in shares of VanEck Rare Earth and Strategic Metals ETF during the 4th quarter valued at about $30,000. Comerica Bank bought a new stake in shares of VanEck Rare Earth and Strategic Metals ETF during the 1st quarter valued at about $30,000. Finally, Sound Income Strategies LLC increased its position in shares of VanEck Rare Earth and Strategic Metals ETF by 856.8% during the 4th quarter. Sound Income Strategies LLC now owns 421 shares of the company’s stock valued at $31,000 after purchasing an additional 377 shares during the last quarter.

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.