VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Large Increase in Short Interest

VanEck Oil Refiners ETF (NYSEARCA:CRAK) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 418,614 shares, a growth of 88.6% from the September 30th total of 221,958 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily volume of 727,878 shares, the short-interest ratio is currently 0.6 days.

VanEck Oil Refiners ETF Stock Down 1.9%

NYSEARCA:CRAK traded down $1.19 during trading hours on Monday, reaching $60.97. 878,046 shares of the stock were exchanged, compared to its average volume of 280,639. The business has a 50-day moving average of $64.12 and a two-hundred day moving average of $52.33. VanEck Oil Refiners ETF has a twelve month low of $37.26 and a twelve month high of $68.37. The company has a market capitalization of $743.83 million, a price-to-earnings ratio of 13.16 and a beta of 0.56.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Ayalon Insurance Comp Ltd. acquired a new position in VanEck Oil Refiners ETF during the 3rd quarter worth about $16,054,000. Journey Advisory Group LLC lifted its position in shares of VanEck Oil Refiners ETF by 135.5% during the first quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock worth $11,529,000 after purchasing an additional 134,273 shares in the last quarter. Convergence Financial LLC acquired a new stake in shares of VanEck Oil Refiners ETF during the third quarter worth about $3,551,000. Founders Financial Securities LLC purchased a new position in shares of VanEck Oil Refiners ETF in the third quarter valued at approximately $3,533,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of VanEck Oil Refiners ETF in the first quarter valued at approximately $1,792,000.

VanEck Oil Refiners ETF Company Profile

The VanEck Oil Refiners ETF (CRAK) is an exchange-traded fund that is based on the MVIS Global Oil Refiners index. The fund tracks a market-cap index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. CRAK was launched on Aug 18, 2015 and is managed by VanEck.