Short Interest in Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Expands By 658.1%

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 111,551 shares, an increase of 658.1% from the April 30th total of 14,715 shares. Approximately 8.3% of the company’s shares are short sold. Based on an average daily volume of 25,186 shares, the days-to-cover ratio is presently 4.4 days.

Global X Rare Earth & Critical Materials ETF Stock Down 1.3%

Shares of NASDAQ:EART traded down $0.44 on Friday, hitting $32.41. The company had a trading volume of 23,935 shares, compared to its average volume of 32,956. The firm’s 50-day simple moving average is $31.61 and its two-hundred day simple moving average is $30.43. Global X Rare Earth & Critical Materials ETF has a 1 year low of $14.91 and a 1 year high of $36.92. The firm has a market capitalization of $43.75 million, a price-to-earnings ratio of -4,725.18 and a beta of 0.97.

Institutional Trading of Global X Rare Earth & Critical Materials ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. purchased a new position in shares of Global X Rare Earth & Critical Materials ETF during the 1st quarter worth approximately $641,000. Cetera Investment Advisers lifted its stake in shares of Global X Rare Earth & Critical Materials ETF by 867.0% in the 4th quarter. Cetera Investment Advisers now owns 111,329 shares of the company’s stock valued at $3,092,000 after purchasing an additional 99,816 shares during the period. Royal Bank of Canada bought a new stake in shares of Global X Rare Earth & Critical Materials ETF during the fourth quarter valued at approximately $3,332,000. Jane Street Group LLC purchased a new stake in Global X Rare Earth & Critical Materials ETF in the fourth quarter worth $295,000. Finally, Susquehanna International Group LLP purchased a new stake in Global X Rare Earth & Critical Materials ETF in the third quarter worth $368,000. 5.34% of the stock is currently owned by hedge funds and other institutional investors.

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.