Short Interest in VanEck Steel ETF (NYSEARCA:SLX) Declines By 53.4%
by Doug Wharley · The Cerbat GemVanEck Steel ETF (NYSEARCA:SLX – Get Free Report) was the recipient of a significant decline in short interest during the month of 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. Based on an average daily volume of 40,845 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.9% of the company’s stock are short sold. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 40,845 shares, the days-to-cover ratio is currently 0.4 days.
VanEck Steel ETF Stock Down 1.1%
SLX traded down $1.02 during midday trading on Friday, hitting $90.66. 45,494 shares of the company traded hands, compared to its average volume of 49,437. The company’s 50-day moving average is $83.34 and its 200 day moving average is $75.99. The firm has a market capitalization of $172.25 million, a PE 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 $92.06.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in shares of VanEck Steel ETF during the 3rd quarter valued at about $25,000. Private Wealth Asset Management LLC purchased a new stake in VanEck Steel ETF during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new position in VanEck Steel ETF in the third quarter worth approximately $30,000. CoreCap Advisors LLC raised its position in VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock worth $78,000 after acquiring an additional 685 shares during the period. Finally, WT Wealth Management boosted its stake in shares of VanEck Steel ETF by 7.0% during the 3rd quarter. WT Wealth Management now owns 11,679 shares of the exchange traded fund’s stock worth $846,000 after acquiring an additional 759 shares during the last quarter.
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.