Market Vectors Emerging Mkts Local ETF (NYSEARCA:EMLC) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,677,892 shares, a decline of 45.0% from the January 12th total of 3,052,052 shares. Based on an average daily trading volume, of 5,475,322 shares, the days-to-cover ratio is currently 0.3 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EMLC. MD Financial Management Inc. purchased a new stake in shares of Market Vectors Emerging Mkts Local ETF during the 4th quarter valued at about $44,776,000. Deutsche Bank AG purchased a new stake in shares of Market Vectors Emerging Mkts Local ETF during the 4th quarter valued at about $16,607,000. The Manufacturers Life Insurance Company increased its position in shares of Market Vectors Emerging Mkts Local ETF by 71.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,234,374 shares of the company’s stock valued at $23,428,000 after purchasing an additional 515,941 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Market Vectors Emerging Mkts Local ETF by 20.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,433,396 shares of the company’s stock valued at $46,187,000 after purchasing an additional 406,225 shares during the last quarter. Finally, Personal Capital Advisors Corp increased its position in shares of Market Vectors Emerging Mkts Local ETF by 10.0% during the 4th quarter. Personal Capital Advisors Corp now owns 4,419,193 shares of the company’s stock valued at $83,876,000 after purchasing an additional 401,311 shares during the last quarter.

Shares of Market Vectors Emerging Mkts Local ETF (NYSEARCA:EMLC) opened at $19.56 on Thursday. Market Vectors Emerging Mkts Local ETF has a 52-week low of $17.83 and a 52-week high of $19.91.

The firm also recently declared a monthly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Friday, February 2nd were given a dividend of $0.0868 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.04 annualized dividend and a dividend yield of 5.33%. This is a positive change from Market Vectors Emerging Mkts Local ETF’s previous monthly dividend of $0.08.

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Market Vectors Emerging Mkts Local ETF Company Profile

Market Vectors Emerging Markets Local Currency Bond ETF (the Fund) seeks to replicate as closely as possible, the price and yield performance of the J.P. Morgan GBI-EMG Core Index (the Index). The Index provides direct exposure to local currency bonds issued by emerging market governments. The Index tracks regularly traded, liquid, fixed-rate, domestic currency debt issues by emerging market governments.

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