Short Interest in VanEck Steel ETF (NYSEARCA:SLX) Decreases By 53.4%

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totaling 16,552 shares, a decline of 53.4% from the December 15th total of 35,491 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 40,845 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 40,845 shares, the short-interest ratio is presently 0.4 days. Approximately 0.9% of the company’s shares are short sold.

Hedge Funds Weigh In On VanEck Steel ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLX. Highline Wealth Partners LLC bought a new position in shares of VanEck Steel ETF in the 3rd quarter worth about $25,000. Private Wealth Asset Management LLC purchased a new position in shares of VanEck Steel ETF during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new stake in shares of VanEck Steel ETF in the 3rd quarter worth approximately $30,000. CoreCap Advisors LLC grew its stake in shares of VanEck Steel ETF by 286.6% in the 4th quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock worth $78,000 after buying an additional 685 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in VanEck Steel ETF during the 3rd quarter valued at approximately $69,000.

VanEck Steel ETF Price Performance

SLX traded up $1.57 on Wednesday, hitting $91.12. The company had a trading volume of 48,879 shares, compared to its average volume of 53,998. The stock has a fifty day simple moving average of $83.06 and a 200-day simple moving average of $75.88. The firm has a market capitalization of $173.13 million, a P/E ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a 52-week low of $51.69 and a 52-week high of $91.20.

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.