VanEck Steel ETF (NYSEARCA:SLX) Short Interest Down 34.7% in June

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 26,943 shares, a drop of 34.7% from the June 15th total of 41,282 shares. Based on an average daily trading volume, of 54,321 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.6% of the shares of the company are short sold.

VanEck Steel ETF Price Performance

Shares of NYSEARCA:SLX opened at $100.22 on Friday. The company has a market capitalization of $160.35 million, a P/E ratio of 14.09 and a beta of 1.24. VanEck Steel ETF has a 1-year low of $66.69 and a 1-year high of $114.00. The firm’s 50 day simple moving average is $104.85 and its two-hundred day simple moving average is $98.51.

Hedge Funds Weigh In On VanEck Steel ETF

Several hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI raised its stake in VanEck Steel ETF by 1.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 7,175 shares of the exchange traded fund’s stock valued at $609,000 after purchasing an additional 108 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of VanEck Steel ETF by 288.5% in the 4th quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 453 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of VanEck Steel ETF by 37.8% in the 2nd quarter. CoreCap Advisors LLC now owns 2,413 shares of the exchange traded fund’s stock worth $237,000 after buying an additional 662 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of VanEck Steel ETF in the 4th quarter worth about $72,000. Finally, WT Wealth Management increased its holdings in shares of VanEck Steel ETF by 5.9% in the 1st quarter. WT Wealth Management now owns 15,610 shares of the exchange traded fund’s stock worth $1,433,000 after buying an additional 865 shares during the last quarter.

VanEck Steel ETF Company Profile

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.