Short Interest in VanEck Steel ETF (NYSEARCA:SLX) Expands By 33.9%

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 74,185 shares, a growth of 33.9% from the January 15th total of 55,403 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average daily volume of 76,135 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 76,135 shares, the days-to-cover ratio is currently 1.0 days. Currently, 3.7% of the company’s shares are short sold.

VanEck Steel ETF Stock Performance

Shares of NYSEARCA:SLX traded down $1.06 during mid-day trading on Friday, hitting $98.70. The stock had a trading volume of 52,655 shares, compared to its average volume of 63,235. VanEck Steel ETF has a 12-month low of $51.69 and a 12-month high of $103.00. The company has a market cap of $196.41 million, a PE ratio of 14.09 and a beta of 1.33. The company’s 50 day moving average is $90.30 and its 200-day moving average is $79.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in shares of VanEck Steel ETF during the 4th quarter valued at $72,000. Financial Sense Advisors Inc. bought a new stake in shares of VanEck Steel ETF in the 4th quarter valued at approximately $424,000. Jane Street Group LLC acquired a new position in VanEck Steel ETF in the fourth quarter worth approximately $2,254,000. HRT Financial LP acquired a new stake in VanEck Steel ETF in the fourth quarter valued at approximately $304,000. Finally, LPL Financial LLC increased its stake in shares of VanEck Steel ETF by 248.9% during the 4th 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 during the last quarter.

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.