VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) saw a significant increase in short interest in May. As of May 15th, there was short interest totaling 158,344 shares, an increase of 352.8% from the April 30th total of 34,969 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average daily volume of 59,355 shares, the days-to-cover ratio is currently 2.7 days.

VanEck Steel ETF Stock Performance

VanEck Steel ETF stock traded down $0.16 on Friday, reaching $110.86. The company’s stock had a trading volume of 61,486 shares, compared to its average volume of 54,793. The company has a market cap of $170.72 million, a price-to-earnings ratio of 14.09 and a beta of 1.21. The business’s fifty day moving average price is $100.37 and its 200 day moving average price is $93.16. VanEck Steel ETF has a twelve month low of $61.37 and a twelve month high of $111.47.

Hedge Funds Weigh In On VanEck Steel ETF

A number of institutional investors and hedge funds have recently bought and sold shares of SLX. LPL Financial LLC boosted its stake 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 purchasing an additional 87,726 shares in the last quarter. UBS Group AG lifted its stake in shares of VanEck Steel ETF by 241.1% during the third quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock valued at $4,283,000 after acquiring an additional 41,768 shares during the period. Cetera Investment Advisers lifted its stake in shares of VanEck Steel ETF by 747.3% during the fourth quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock valued at $3,533,000 after acquiring an additional 36,722 shares during the period. Jane Street Group LLC acquired a new position in shares of VanEck Steel ETF during the fourth quarter valued at $2,254,000. Finally, Clark Capital Management Group Inc. acquired a new position in shares of VanEck Steel ETF during the fourth quarter valued at $1,437,000.

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.