VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 30,988 shares, a growth of 19.6% from the February 12th total of 25,901 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 43,235 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 43,235 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.6% of the shares of the company are short sold.

VanEck Steel ETF Trading Up 1.5%

SLX stock traded up $1.35 during midday trading on Monday, hitting $89.63. The stock had a trading volume of 66,916 shares, compared to its average volume of 67,804. VanEck Steel ETF has a 52 week low of $51.69 and a 52 week high of $103.00. The stock has a 50-day simple moving average of $95.00 and a 200 day simple moving average of $83.85. The firm has a market capitalization of $178.36 million, a price-to-earnings ratio of 14.09 and a beta of 1.33.

Hedge Funds Weigh In On VanEck Steel ETF

A number of hedge funds have recently made changes to their positions in SLX. LPL Financial LLC boosted its position 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 valued at $10,435,000 after acquiring an additional 87,726 shares in the last quarter. Raymond James Financial Inc. raised its position in VanEck Steel ETF by 3.9% in the third 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 in the last quarter. UBS Group AG raised its position in 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 worth $4,283,000 after purchasing an additional 41,768 shares in the last quarter. Cetera Investment Advisers lifted its stake in VanEck Steel ETF by 747.3% during the fourth quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock worth $3,533,000 after purchasing an additional 36,722 shares during the period. Finally, Jane Street Group LLC bought a new position in VanEck Steel ETF during the fourth quarter worth about $2,254,000.

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.