VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

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

Hedge Funds Weigh In On VanEck Steel ETF

A number of institutional investors have recently made changes to their positions in SLX. Highline Wealth Partners LLC purchased a new stake in shares of VanEck Steel ETF during the 3rd quarter valued at $25,000. Private Wealth Asset Management LLC purchased a new stake in VanEck Steel ETF during the second quarter valued at about $26,000. Geneos Wealth Management Inc. bought a new stake in VanEck Steel ETF during the third quarter worth about $30,000. Farther Finance Advisors LLC increased its position in shares of VanEck Steel ETF by 288.5% during the 4th quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 453 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of VanEck Steel ETF during the 3rd quarter valued at about $69,000.

VanEck Steel ETF Price Performance

Shares of NYSEARCA:SLX traded down $0.31 during trading on Wednesday, hitting $95.86. 43,838 shares of the company were exchanged, compared to its average volume of 59,691. VanEck Steel ETF has a 52-week low of $51.69 and a 52-week high of $96.53. The stock has a 50 day moving average of $86.07 and a 200 day moving average of $77.55. The company has a market cap of $187.89 million, a PE ratio of 14.09 and a beta of 1.33.

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.