VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 26,943 shares, a decrease of 34.7% from the June 15th total of 41,282 shares. Based on an average daily trading volume, of 54,321 shares, the short-interest ratio is currently 0.5 days. Approximately 1.6% of the company’s shares are short sold.

Institutional Trading of VanEck Steel ETF

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG grew its holdings in shares of VanEck Steel ETF by 241.1% in the third quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock worth $4,283,000 after purchasing an additional 41,768 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of VanEck Steel ETF by 3.9% in the third quarter. Raymond James Financial Inc. now owns 96,849 shares of the exchange traded fund’s stock worth $7,020,000 after buying an additional 3,655 shares during the period. Bank of America Corp DE raised its holdings in VanEck Steel ETF by 99.2% during the 3rd quarter. Bank of America Corp DE now owns 21,065 shares of the exchange traded fund’s stock valued at $1,527,000 after buying an additional 10,492 shares during the last quarter. Park Avenue Securities LLC bought a new stake in VanEck Steel ETF during the 4th quarter valued at $340,000. Finally, JBGlobal.com LLC purchased a new stake in VanEck Steel ETF during the 4th quarter valued at $289,000.

VanEck Steel ETF Trading Down 1.5%

Shares of NYSEARCA:SLX opened at $100.28 on Friday. The stock’s 50-day moving average price is $105.01 and its 200-day moving average price is $98.50. VanEck Steel ETF has a 12-month low of $66.69 and a 12-month high of $114.00. The stock has a market capitalization of $160.45 million, a P/E ratio of 14.09 and a beta of 1.24.

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.