VanEck Steel ETF (NYSEARCA:SLX) Sees Large Increase in Short Interest

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 55,403 shares, a growth of 234.7% from the December 31st total of 16,552 shares. Based on an average daily volume of 51,372 shares, the short-interest ratio is presently 1.1 days. Approximately 2.8% of the company’s shares are short sold. Approximately 2.8% of the company’s shares are short sold. Based on an average daily volume of 51,372 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On VanEck Steel ETF

Institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI increased its stake in VanEck Steel ETF by 1.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,175 shares of the exchange traded fund’s stock worth $609,000 after buying an additional 108 shares during the period. Private Trust Co. NA acquired a new stake in shares of VanEck Steel ETF during the fourth quarter valued at about $190,000. Farther Finance Advisors LLC increased its position in shares of VanEck Steel ETF by 288.5% during the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after acquiring an additional 453 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock worth $78,000 after acquiring an additional 685 shares in the last quarter. Finally, JBGlobal.com LLC acquired a new position in shares of VanEck Steel ETF in the fourth quarter worth about $289,000.

VanEck Steel ETF Trading Down 3.1%

Shares of VanEck Steel ETF stock traded down $2.98 during trading hours on Friday, reaching $94.01. The stock had a trading volume of 92,620 shares, compared to its average volume of 63,651. The firm has a market capitalization of $184.26 million, a price-to-earnings ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a 1 year low of $51.69 and a 1 year high of $98.24. The firm has a 50 day simple moving average of $86.83 and a two-hundred day simple moving average of $77.84.

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.