VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 55,403 shares, an increase of 234.7% from the December 31st total of 16,552 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 51,372 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 51,372 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.8% of the company’s stock are sold short.

Hedge Funds Weigh In On VanEck Steel ETF

A number of large investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI increased its holdings in shares of VanEck Steel ETF by 1.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,175 shares of the exchange traded fund’s stock worth $609,000 after acquiring an additional 108 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of VanEck Steel ETF in the fourth quarter valued at $190,000. Farther Finance Advisors LLC increased its holdings in shares of VanEck Steel ETF by 288.5% in the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 453 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock valued at $78,000 after purchasing an additional 685 shares during the period. Finally, JBGlobal.com LLC acquired a new stake in shares of VanEck Steel ETF during the 4th quarter worth about $289,000.

VanEck Steel ETF Stock Performance

NYSEARCA SLX traded down $2.98 during trading on Friday, hitting $94.01. The stock had a trading volume of 92,620 shares, compared to its average volume of 63,651. VanEck Steel ETF has a 12 month low of $51.69 and a 12 month high of $98.24. The company’s 50-day moving average price is $86.83 and its two-hundred day moving average price is $77.84. The company has a market capitalization of $184.26 million, a PE ratio of 14.09 and a beta of 1.33.

About VanEck Steel ETF

Market Vectors Steel ETF (the Fund) seeks to replicate as closely as possible the price and yield performance of the NYSE Arca Steel Index (STEEL or the Index) by investing in a portfolio of securities that generally replicates STEEL. STEEL, calculated by the NYSE Alternext, is a modified market capitalization-weighted index consisting of publicly traded companies predominantly involved in the production of steel products or mining and processing of iron ore. The Index includes companies primarily involved in a variety of activities related to steel production, including the operation of manufacturing mills and fabrication of steel products.