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

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 25,901 shares, a decline of 65.1% from the January 29th total of 74,185 shares. Based on an average trading volume of 62,377 shares, the short-interest ratio is currently 0.4 days. Approximately 1.3% of the company’s stock are short sold. Approximately 1.3% of the company’s stock are short sold. Based on an average trading volume of 62,377 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLX. LPL Financial LLC boosted its holdings in VanEck Steel ETF by 248.9% in the fourth quarter. LPL Financial LLC now owns 122,968 shares of the exchange traded fund’s stock worth $10,435,000 after acquiring an additional 87,726 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of VanEck Steel ETF by 3.9% in the 3rd quarter. Raymond James Financial Inc. now owns 96,849 shares of the exchange traded fund’s stock worth $7,020,000 after purchasing an additional 3,655 shares during the last quarter. UBS Group AG raised its position in shares of VanEck Steel ETF by 241.1% in the 3rd 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. Cetera Investment Advisers boosted its stake in VanEck Steel ETF by 747.3% in the 4th quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock worth $3,533,000 after purchasing an additional 36,722 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in VanEck Steel ETF during the 4th quarter valued at about $2,254,000.

VanEck Steel ETF Trading Up 0.3%

SLX traded up $0.30 during midday trading on Friday, reaching $101.08. The company’s stock had a trading volume of 39,438 shares, compared to its average volume of 58,609. VanEck Steel ETF has a 1 year low of $51.69 and a 1 year high of $103.00. The stock’s 50-day moving average is $93.05 and its 200-day moving average is $81.70. The firm has a market capitalization of $201.15 million, a price-to-earnings ratio of 14.09 and a beta of 1.33.

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.