Short Interest in VanEck Steel ETF (NYSEARCA:SLX) Decreases By 53.4%

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 16,552 shares, a decrease of 53.4% from the December 15th total of 35,491 shares. Based on an average daily volume of 40,845 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.9% of the company’s shares are sold short. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 40,845 shares, the days-to-cover ratio is presently 0.4 days.

VanEck Steel ETF Stock Down 1.0%

NYSEARCA:SLX traded down $0.94 on Friday, hitting $90.74. The stock had a trading volume of 50,274 shares, compared to its average volume of 51,225. The business’s 50-day simple moving average is $83.34 and its two-hundred day simple moving average is $75.99. The stock has a market cap of $172.41 million, a price-to-earnings ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a 52-week low of $51.69 and a 52-week high of $92.06.

Institutional Trading of VanEck Steel ETF

Several institutional investors have recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new stake in shares of VanEck Steel ETF in the third quarter worth approximately $25,000. Private Wealth Asset Management LLC purchased a new stake in VanEck Steel ETF in the second quarter worth $26,000. Geneos Wealth Management Inc. purchased a new stake in VanEck Steel ETF in the third quarter worth $30,000. Ball & Co Wealth Management Inc. bought a new stake in shares of VanEck Steel ETF during the third quarter worth $69,000. Finally, CoreCap Advisors LLC boosted its stake in shares of VanEck Steel ETF by 286.6% during the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock valued at $78,000 after purchasing an additional 685 shares during the period.

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.