VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 27,630 shares, a drop of 43.1% from the August 15th total of 48,555 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 22,962 shares, the short-interest ratio is currently 1.2 days.

VanEck Steel ETF Trading Down 2.6%

NYSEARCA SLX opened at $106.11 on Tuesday. VanEck Steel ETF has a 1-year low of $71.43 and a 1-year high of $114.00. The company has a market capitalization of $169.78 million, a PE ratio of 14.09 and a beta of 1.24. The firm’s fifty day simple moving average is $105.93 and its 200-day simple moving average is $102.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of VanEck Steel ETF by 12.5% during the 1st quarter. Bank of America Corp DE now owns 28,573 shares of the exchange traded fund’s stock valued at $2,623,000 after buying an additional 3,171 shares during the last quarter. NewEdge Advisors LLC increased its holdings in VanEck Steel ETF by 41.9% in the second quarter. NewEdge Advisors LLC now owns 21,766 shares of the exchange traded fund’s stock worth $2,142,000 after buying an additional 6,426 shares during the last quarter. WT Wealth Management increased its holdings in VanEck Steel ETF by 5.9% in the first quarter. WT Wealth Management now owns 15,610 shares of the exchange traded fund’s stock worth $1,433,000 after buying an additional 865 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in VanEck Steel ETF during the fourth quarter valued at approximately $1,217,000. Finally, Client First Investment Management LLC bought a new position in VanEck Steel ETF during the fourth quarter valued at approximately $986,000.

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.