Fridays auction was the culmination of buying throughout the past week, in order for sufficient stock to be able to be smoothly transitioned into THIS fund. These institutions just don't suddenly turn up to buy on the day.........it's all pre-arranged
https://www.vaneck.com/us/en/investments/rare-earth-strategic-metals-etf-remx/holdings/
The fund components should be updated in the next couple of days, but expect to see REMX show a holding of 4.5% in AVZ
Be aware, this is just the start of big institutional entry of AVZ onto their registers, over the next few months
Also, take a look at the other thread titled AVZ shares held by Van Eck Rare Earths