VanEck Steel ETF (NYSEARCA:SLX) Short Interest Up 48.0% in December

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 35,491 shares, a growth of 48.0% from the November 30th total of 23,979 shares. Based on an average trading volume of 52,281 shares, the short-interest ratio is currently 0.7 days. Currently, 2.3% of the company’s stock are short sold. Currently, 2.3% of the company’s stock are short sold. Based on an average trading volume of 52,281 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of VanEck Steel ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLX. Bank of America Corp DE raised its holdings in shares of VanEck Steel ETF by 99.2% in the 3rd quarter. Bank of America Corp DE now owns 21,065 shares of the exchange traded fund’s stock valued at $1,527,000 after purchasing an additional 10,492 shares during the period. Raymond James Financial Inc. lifted its holdings in VanEck Steel ETF by 3.9% during the 3rd quarter. Raymond James Financial Inc. now owns 96,849 shares of the exchange traded fund’s stock worth $7,020,000 after purchasing an additional 3,655 shares during the last quarter. UBS Group AG boosted its position in shares of VanEck Steel ETF by 241.1% in 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. B. Riley Wealth Advisors Inc. bought a new stake in VanEck Steel ETF in the 3rd quarter valued at about $429,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in VanEck Steel ETF during the third quarter worth approximately $69,000.

VanEck Steel ETF Price Performance

SLX stock traded down $1.13 during mid-day trading on Monday, reaching $85.27. The company had a trading volume of 28,034 shares, compared to its average volume of 23,322. The stock has a 50 day simple moving average of $80.58 and a two-hundred day simple moving average of $73.90. The company has a market capitalization of $132.17 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 $86.40.

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.