Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Short Interest Up 510.5% in August

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the recipient of a significant increase in short interest in 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. Currently, 3.0% of the shares of the company are short sold. Based on an average daily volume of 19,475 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

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

Global X Rare Earth & Critical Materials ETF Stock Performance

NASDAQ EART opened at $31.75 on Wednesday. Global X Rare Earth & Critical Materials ETF has a one year low of $20.12 and a one year high of $36.92. The stock has a 50-day moving average of $28.78 and a 200 day moving average of $30.90. The company 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 Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 29th were issued a dividend of $0.137 per share. The ex-dividend date of this dividend was Monday, June 29th. Global X Rare Earth & Critical Materials ETF’s dividend payout ratio (DPR) is presently -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.