Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) Short Interest Up 114.7% in June

Global X Rare Earth & Critical Materials ETF (NASDAQ:EART) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 59,609 shares, an increase of 114.7% from the May 31st total of 27,763 shares. Based on an average daily trading volume, of 16,360 shares, the days-to-cover ratio is presently 3.6 days. Currently, 4.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EART. Jane Street Group LLC lifted its position in Global X Rare Earth & Critical Materials ETF by 113.1% during the 1st quarter. Jane Street Group LLC now owns 22,524 shares of the company’s stock worth $325,000 after buying an additional 11,952 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Global X Rare Earth & Critical Materials ETF by 8.9% in 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 in the last quarter. Cetera Investment Advisers increased its position in shares of Global X Rare Earth & Critical Materials ETF by 11.1% in the second quarter. Cetera Investment Advisers now owns 12,005 shares of the company’s stock valued at $198,000 after acquiring an additional 1,199 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Global X Rare Earth & Critical Materials ETF in the second quarter valued at about $326,000. Finally, Susquehanna International Group LLP bought a new stake in Global X Rare Earth & Critical Materials ETF during the third quarter worth about $368,000. Institutional investors own 5.34% of the company’s stock.

Global X Rare Earth & Critical Materials ETF Stock Down 1.0%

Shares of EART opened at $28.73 on Thursday. The stock has a market capitalization of $38.79 million, a P/E ratio of -4,188.66 and a beta of 0.95. Global X Rare Earth & Critical Materials ETF has a twelve month low of $16.58 and a twelve month high of $36.92. The company has a 50 day moving average of $31.78 and a 200-day moving average of $31.40.

Global X Rare Earth & Critical Materials ETF Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 29th will be issued a dividend of $0.137 per share. The ex-dividend date is Monday, June 29th. Global X Rare Earth & Critical Materials ETF’s dividend payout ratio is presently -2,624.29%.

Global X Rare Earth & Critical Materials ETF Company Profile

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.