VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 27,630 shares, a decline of 43.1% from the August 15th total of 48,555 shares. Based on an average daily volume of 22,962 shares, the short-interest ratio is presently 1.2 days. Approximately 1.7% of the company’s stock are short sold.

VanEck Steel ETF Trading Down 2.6%

Shares of NYSEARCA:SLX opened at $106.11 on Tuesday. The stock has a market capitalization of $169.78 million, a PE ratio of 14.09 and a beta of 1.24. VanEck Steel ETF has a 1 year low of $71.43 and a 1 year high of $114.00. The firm has a fifty day moving average price of $105.93 and a 200 day moving average price of $102.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of VanEck Steel ETF by 12.5% during the 1st quarter. Bank of America Corp DE now owns 28,573 shares of the exchange traded fund’s stock worth $2,623,000 after purchasing an additional 3,171 shares during the last quarter. NewEdge Advisors LLC grew its holdings in VanEck Steel ETF by 41.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,766 shares of the exchange traded fund’s stock valued at $2,142,000 after buying an additional 6,426 shares during the last quarter. WT Wealth Management grew its holdings in 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 valued at $1,433,000 after buying an additional 865 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in VanEck Steel ETF in the 4th quarter valued at approximately $1,217,000. Finally, Client First Investment Management LLC bought a new position in VanEck Steel ETF in the 4th quarter worth approximately $986,000.

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.