VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Significant Growth in Short Interest

VanEck Oil Refiners ETF (NYSEARCA:CRAK) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 377,396 shares, an increase of 501.3% from the July 15th total of 62,763 shares. Currently, 8.6% of the shares of the stock are sold short. Based on an average daily volume of 445,584 shares, the days-to-cover ratio is currently 0.8 days.

VanEck Oil Refiners ETF Price Performance

Shares of CRAK stock traded up $0.36 during trading hours on Wednesday, hitting $57.63. 100,797 shares of the company’s stock were exchanged, compared to its average volume of 144,668. VanEck Oil Refiners ETF has a 52 week low of $33.54 and a 52 week high of $57.91. The stock has a market cap of $253.57 million, a price-to-earnings ratio of 13.16 and a beta of 0.52. The stock’s 50-day moving average is $50.55 and its 200-day moving average is $48.16.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Journey Advisory Group LLC boosted its position in VanEck Oil Refiners ETF by 135.5% in the 1st quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock valued at $11,529,000 after buying an additional 134,273 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of VanEck Oil Refiners ETF in the 1st quarter valued at $1,792,000. GeoWealth Management LLC bought a new stake in shares of VanEck Oil Refiners ETF during the fourth quarter worth $1,000,000. Equitable Holdings Inc. bought a new stake in shares of VanEck Oil Refiners ETF during the fourth quarter worth $981,000. Finally, J. Safra Sarasin Holding AG acquired a new position in shares of VanEck Oil Refiners ETF during the first quarter valued at $1,077,000.

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.