VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 30,988 shares, an increase of 19.6% from the February 12th total of 25,901 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 43,235 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 43,235 shares, the short-interest ratio is currently 0.7 days. Approximately 1.6% of the company’s shares are short sold.

Institutional Trading of VanEck Steel ETF

A number of institutional investors have recently modified their holdings of SLX. WT Wealth Management acquired a new position in VanEck Steel ETF during the second quarter valued at approximately $722,000. Highline Wealth Partners LLC acquired a new position in shares of VanEck Steel ETF during the 3rd quarter valued at $25,000. Griffin Asset Management Inc. acquired a new position in shares of VanEck Steel ETF during the 3rd quarter valued at $263,000. Geneos Wealth Management Inc. purchased a new stake in VanEck Steel ETF during the 3rd quarter worth $30,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in VanEck Steel ETF in the 3rd quarter valued at $69,000.

VanEck Steel ETF Stock Down 0.8%

Shares of SLX stock traded down $0.68 during mid-day trading on Wednesday, hitting $89.74. 9,581 shares of the company’s stock were exchanged, compared to its average volume of 66,078. The stock has a market cap of $178.58 million, a price-to-earnings ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a fifty-two week low of $51.69 and a fifty-two week high of $103.00. The stock has a 50-day simple moving average of $95.03 and a two-hundred day simple moving average of $83.99.

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.