VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Significant Decline in Short Interest

VanEck Oil Refiners ETF (NYSEARCA:CRAK) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 91,895 shares, a decrease of 47.8% from the August 15th total of 176,090 shares. Based on an average trading volume of 397,835 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.1% of the shares of the stock are sold short.

VanEck Oil Refiners ETF Price Performance

Shares of VanEck Oil Refiners ETF stock traded up $1.02 during trading on Tuesday, reaching $65.47. 302,737 shares of the stock traded hands, compared to its average volume of 190,735. The company has a market capitalization of $288.09 million, a price-to-earnings ratio of 13.16 and a beta of 0.54. VanEck Oil Refiners ETF has a 52-week low of $35.50 and a 52-week high of $66.58. The business has a fifty day simple moving average of $57.50 and a two-hundred day simple moving average of $51.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRAK. Journey Advisory Group LLC grew its stake in shares of VanEck Oil Refiners ETF by 135.5% in the 1st quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock worth $11,529,000 after buying an additional 134,273 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of VanEck Oil Refiners ETF in the 1st quarter valued at about $1,792,000. J. Safra Sarasin Holding AG bought a new position in shares of VanEck Oil Refiners ETF in the 1st quarter valued at about $1,077,000. Western Wealth Management LLC grew its position in VanEck Oil Refiners ETF by 42.2% in the first quarter. Western Wealth Management LLC now owns 19,078 shares of the company’s stock worth $942,000 after acquiring an additional 5,660 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in VanEck Oil Refiners ETF in the first quarter worth about $328,000.

About VanEck Oil Refiners ETF

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.