Short Interest in VanEck Steel ETF (NYSEARCA:SLX) Rises By 143.6%

VanEck Steel ETF (NYSEARCA:SLX) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 65,695 shares, a growth of 143.6% from the July 15th total of 26,966 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 28,844 shares, the short-interest ratio is currently 2.3 days.

Institutional Investors Weigh In On VanEck Steel ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of VanEck Steel ETF by 248.9% during the 4th quarter. LPL Financial LLC now owns 122,968 shares of the exchange traded fund’s stock valued at $10,435,000 after purchasing an additional 87,726 shares in the last quarter. UBS Group AG grew its position in VanEck Steel ETF by 241.1% during the third quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock valued at $4,283,000 after buying an additional 41,768 shares during the period. Cetera Investment Advisers grew its position in VanEck Steel ETF by 747.3% during the fourth quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock valued at $3,533,000 after buying an additional 36,722 shares during the period. Jane Street Group LLC purchased a new position in VanEck Steel ETF in the fourth quarter valued at $2,254,000. Finally, Clark Capital Management Group Inc. purchased a new position in VanEck Steel ETF in the fourth quarter valued at $1,437,000.

VanEck Steel ETF Stock Down 0.5%

Shares of SLX stock traded down $0.54 on Friday, hitting $107.96. The company had a trading volume of 11,459 shares, compared to its average volume of 51,654. VanEck Steel ETF has a twelve month low of $68.20 and a twelve month high of $114.00. The firm has a market cap of $172.74 million, a P/E ratio of 14.09 and a beta of 1.23. The company has a 50-day moving average price of $103.77 and a 200-day moving average price of $100.86.

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.