Envestnet Asset Management Inc. Makes New Investment in VanEck Rare Earth and Strategic Metals ETF $REMX

Envestnet Asset Management Inc. acquired a new stake in VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,491 shares of the company’s stock, valued at approximately $888,000. Envestnet Asset Management Inc. owned approximately 0.07% of VanEck Rare Earth and Strategic Metals ETF at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AE Wealth Management LLC increased its holdings in VanEck Rare Earth and Strategic Metals ETF by 106.9% in the 3rd quarter. AE Wealth Management LLC now owns 542 shares of the company’s stock worth $36,000 after acquiring an additional 280 shares in the last quarter. MAI Capital Management acquired a new stake in shares of VanEck Rare Earth and Strategic Metals ETF in the second quarter valued at about $30,000. Comerica Bank purchased a new stake in shares of VanEck Rare Earth and Strategic Metals ETF during the first quarter worth about $30,000. Northwestern Mutual Wealth Management Co. raised its position in shares of VanEck Rare Earth and Strategic Metals ETF by 74.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 890 shares of the company’s stock worth $36,000 after purchasing an additional 379 shares during the last quarter. Finally, Armstrong Advisory Group Inc. acquired a new position in shares of VanEck Rare Earth and Strategic Metals ETF during the 3rd quarter worth about $104,000.

VanEck Rare Earth and Strategic Metals ETF Trading Down 8.0%

REMX stock opened at $94.93 on Wednesday. VanEck Rare Earth and Strategic Metals ETF has a 12-month low of $32.36 and a 12-month high of $103.68. The business’s 50-day moving average is $88.18 and its 200 day moving average is $75.04. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 5.66 and a beta of 1.41.

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.