Short Interest in VanEck Steel ETF (NYSEARCA:SLX) Declines By 65.1%

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 25,901 shares, a drop of 65.1% from the January 29th total of 74,185 shares. Based on an average daily volume of 62,377 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.3% of the company’s shares are short sold. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 62,377 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of VanEck Steel ETF

Several large investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in shares of VanEck Steel ETF in the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new position in shares of VanEck Steel ETF in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its stake in 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 purchasing an additional 453 shares during the last quarter. Ball & Co Wealth Management Inc. bought a new stake in VanEck Steel ETF during the third quarter worth approximately $69,000. Finally, Kestra Advisory Services LLC bought a new position in shares of VanEck Steel ETF in the fourth quarter valued at $72,000.

VanEck Steel ETF Trading Up 0.2%

Shares of SLX opened at $99.99 on Thursday. The firm has a market capitalization of $198.99 million, a P/E ratio of 14.09 and a beta of 1.33. The stock’s fifty day simple moving average is $92.74 and its 200 day simple moving average is $81.56. VanEck Steel ETF has a twelve month low of $51.69 and a twelve month high of $103.00.

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.