VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Large Decrease in Short Interest

VanEck Oil Refiners ETF (NYSEARCA:CRAK) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 91,895 shares, a decline of 47.8% from the August 15th total of 176,090 shares. Based on an average trading volume of 397,835 shares, the days-to-cover ratio is presently 0.2 days. Currently, 2.1% of the shares of the company are short sold.

VanEck Oil Refiners ETF Stock Performance

NYSEARCA:CRAK traded up $1.21 during mid-day trading on Thursday, reaching $66.44. The stock had a trading volume of 286,761 shares, compared to its average volume of 193,759. VanEck Oil Refiners ETF has a twelve month low of $35.50 and a twelve month high of $66.58. The business has a 50 day simple moving average of $58.14 and a 200 day simple moving average of $51.54. The firm has a market capitalization of $535.55 million, a price-to-earnings ratio of 13.16 and a beta of 0.54.

Institutional Trading of VanEck Oil Refiners ETF

Hedge funds have recently modified their holdings of the business. Community Financial Services Group LLC purchased a new position in shares of VanEck Oil Refiners ETF during the 2nd quarter worth about $29,000. Western Wealth Management LLC grew its holdings in VanEck Oil Refiners ETF by 42.2% in the first quarter. Western Wealth Management LLC now owns 19,078 shares of the company’s stock valued at $942,000 after purchasing an additional 5,660 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in VanEck Oil Refiners ETF in the first quarter valued at approximately $1,792,000. Journey Advisory Group LLC increased its position in VanEck Oil Refiners ETF by 135.5% during the first quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock worth $11,529,000 after purchasing an additional 134,273 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in VanEck Oil Refiners ETF during the first quarter worth approximately $328,000.

VanEck Oil Refiners ETF Company Profile

The VanEck Oil Refiners ETF (CRAK) is an exchange-traded fund that is based on the MVIS Global Oil Refiners index. The fund tracks a market-cap index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. CRAK was launched on Aug 18, 2015 and is managed by VanEck.