VanEck Steel ETF (NYSEARCA:SLX) Sees Large Growth in Short Interest

VanEck Steel ETF (NYSEARCA:SLX) saw a large growth in short interest in December. As of December 15th, there was short interest totaling 35,491 shares, a growth of 48.0% from the November 30th total of 23,979 shares. Based on an average daily trading volume, of 52,281 shares, the short-interest ratio is currently 0.7 days. Currently, 2.3% of the shares of the stock are short sold. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 52,281 shares, the short-interest ratio is currently 0.7 days.

VanEck Steel ETF Price Performance

NYSEARCA:SLX traded down $1.13 during trading hours on Monday, hitting $85.27. The company’s stock had a trading volume of 28,034 shares, compared to its average volume of 23,322. The stock has a fifty day simple moving average of $80.58 and a 200-day simple moving average of $73.90. The company has a market capitalization of $132.17 million, a P/E ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a twelve month low of $51.69 and a twelve month high of $86.40.

Hedge Funds Weigh In On VanEck Steel ETF

Several large investors have recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in VanEck Steel ETF during the 3rd quarter worth approximately $25,000. Private Wealth Asset Management LLC acquired a new stake in shares of VanEck Steel ETF during the second quarter worth $26,000. Geneos Wealth Management Inc. bought a new position in VanEck Steel ETF during the third quarter worth $30,000. Ball & Co Wealth Management Inc. bought a new position in VanEck Steel ETF during the third quarter worth $69,000. Finally, Griffin Asset Management Inc. acquired a new position in VanEck Steel ETF in the third quarter valued at $263,000.

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.