VanEck Steel ETF (NYSEARCA:SLX) Sees Significant Decrease in Short Interest

VanEck Steel ETF (NYSEARCA:SLX) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 23,748 shares, a drop of 23.4% from the February 26th total of 30,988 shares. Based on an average daily trading volume, of 103,809 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.2% of the company’s stock are short sold.

Institutional Trading of VanEck Steel ETF

Institutional investors have recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new position in VanEck Steel ETF during the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of VanEck Steel ETF during the third 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 valued at $52,000 after buying an additional 453 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of VanEck Steel ETF during the fourth quarter valued at $72,000. Finally, CoreCap Advisors LLC grew its holdings in shares of VanEck Steel ETF by 286.6% during 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 Price Performance

NYSEARCA SLX traded up $0.35 during trading on Monday, hitting $88.52. The company’s stock had a trading volume of 38,555 shares, compared to its average volume of 62,128. VanEck Steel ETF has a fifty-two week low of $51.69 and a fifty-two week high of $103.00. The company has a market cap of $176.15 million, a PE ratio of 14.09 and a beta of 1.33. The business’s 50 day simple moving average is $94.79 and its 200-day simple moving average is $85.09.

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.