VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 74,185 shares, an increase of 33.9% from the January 15th total of 55,403 shares. Approximately 3.7% of the company’s shares are short sold. Based on an average trading volume of 76,135 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 76,135 shares, the short-interest ratio is currently 1.0 days. Approximately 3.7% of the company’s shares are short sold.

VanEck Steel ETF Trading Down 0.6%

Shares of SLX stock traded down $0.55 on Tuesday, reaching $98.15. 61,850 shares of the company’s stock were exchanged, compared to its average volume of 63,115. The stock has a market capitalization of $195.33 million, a PE ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a 52 week low of $51.69 and a 52 week high of $103.00. The company’s fifty day simple moving average is $90.65 and its 200 day simple moving average is $80.08.

Hedge Funds Weigh In On VanEck Steel ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Highline Wealth Partners LLC purchased a new position in shares of VanEck Steel ETF in the third quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new position in VanEck Steel ETF during the third quarter worth $30,000. Farther Finance Advisors LLC lifted its position in shares of VanEck Steel ETF by 288.5% in the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock valued at $52,000 after acquiring an additional 453 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in VanEck Steel ETF during the 4th quarter worth $72,000. Finally, CoreCap Advisors LLC grew its position 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 valued at $78,000 after purchasing an additional 685 shares in the last quarter.

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.