VanEck Steel ETF (NYSEARCA:SLX) Short Interest Up 33.9% in January

VanEck Steel ETF (NYSEARCA:SLX) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 74,185 shares, an increase of 33.9% from the January 15th total of 55,403 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average daily volume of 76,135 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 76,135 shares, the days-to-cover ratio is presently 1.0 days. Approximately 3.7% of the company’s stock are sold short.

VanEck Steel ETF Stock Down 1.1%

SLX stock traded down $1.06 during midday trading on Monday, hitting $98.70. The company’s stock had a trading volume of 52,655 shares, compared to its average volume of 63,235. The firm has a 50-day simple moving average of $90.65 and a 200-day simple moving average of $80.08. The firm has a market capitalization of $196.41 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 $103.00.

Institutional Investors Weigh In On VanEck Steel ETF

Several large investors have recently bought and sold shares of SLX. MML Investors Services LLC acquired a new stake in VanEck Steel ETF in the 4th quarter valued at about $835,000. Kestra Advisory Services LLC purchased a new stake in shares of VanEck Steel ETF during the fourth quarter worth approximately $72,000. Financial Sense Advisors Inc. purchased a new stake in shares of VanEck Steel ETF during the fourth quarter worth approximately $424,000. Jane Street Group LLC acquired a new stake in VanEck Steel ETF in the fourth quarter valued at approximately $2,254,000. Finally, HRT Financial LP purchased a new position in VanEck Steel ETF in the fourth quarter worth approximately $304,000.

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.