VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 31,787 shares, a growth of 33.9% from the March 15th total of 23,748 shares. Based on an average daily volume of 36,078 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.0% of the company’s stock are short sold.

VanEck Steel ETF Stock Up 1.7%

Shares of NYSEARCA SLX traded up $1.72 during midday trading on Friday, reaching $101.33. 36,106 shares of the stock were exchanged, compared to its average volume of 55,597. VanEck Steel ETF has a twelve month low of $55.55 and a twelve month high of $103.00. The firm has a 50-day simple moving average of $95.03 and a two-hundred day simple moving average of $87.07. The firm has a market cap of $156.05 million, a price-to-earnings ratio of 14.09 and a beta of 1.21.

Hedge Funds Weigh In On VanEck Steel ETF

A number of hedge funds have recently made changes to their positions in SLX. Citizens Financial Group Inc. RI raised its position in shares of VanEck Steel ETF by 1.5% during the 4th 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 in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of VanEck Steel ETF in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in VanEck Steel ETF during the third quarter worth $30,000. Farther Finance Advisors LLC raised its position in VanEck Steel ETF by 288.5% in the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after acquiring an additional 453 shares in the last quarter. Finally, CoreCap Advisors LLC raised its position in VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock worth $78,000 after acquiring an additional 685 shares in the last quarter.

VanEck Steel ETF Company Profile

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.