VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 25,901 shares, a decrease of 65.1% from the January 29th total of 74,185 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average trading volume of 62,377 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 62,377 shares, the short-interest ratio is currently 0.4 days. Currently, 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On VanEck Steel ETF

Hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its stake in shares of VanEck Steel ETF by 1.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 7,175 shares of the exchange traded fund’s stock worth $609,000 after acquiring an additional 108 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in VanEck Steel ETF during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. acquired a new stake in VanEck Steel ETF during the 3rd quarter worth $30,000. Farther Finance Advisors LLC grew its holdings in shares of VanEck Steel ETF by 288.5% during the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 453 shares in the last quarter. Finally, CoreCap Advisors LLC raised its position in shares of VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock valued at $78,000 after buying an additional 685 shares during the last quarter.

VanEck Steel ETF Trading Up 0.3%

SLX traded up $0.30 during midday trading on Friday, hitting $101.08. 39,438 shares of the company traded hands, compared to its average volume of 58,609. The business has a 50 day simple moving average of $93.38 and a two-hundred day simple moving average of $82.01. VanEck Steel ETF has a 52-week low of $51.69 and a 52-week high of $103.00. The company has a market capitalization of $201.15 million, a price-to-earnings ratio of 14.09 and a beta of 1.33.

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.