Short Interest in VanEck Oil Refiners ETF (NYSEARCA:CRAK) Drops By 53.3%

VanEck Oil Refiners ETF (NYSEARCA:CRAK) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 176,090 shares, a decrease of 53.3% from the July 30th total of 377,396 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 350,952 shares, the short-interest ratio is presently 0.5 days.

VanEck Oil Refiners ETF Stock Up 1.7%

VanEck Oil Refiners ETF stock traded up $1.03 during trading hours on Friday, hitting $60.19. 325,695 shares of the company traded hands, compared to its average volume of 161,957. VanEck Oil Refiners ETF has a 1-year low of $35.06 and a 1-year high of $61.06. The firm has a market cap of $264.84 million, a P/E ratio of 13.16 and a beta of 0.52. The firm’s 50-day simple moving average is $53.64 and its two-hundred day simple moving average is $49.71.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Journey Advisory Group LLC lifted its position in VanEck Oil Refiners ETF by 135.5% in the first quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock worth $11,529,000 after purchasing an additional 134,273 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of VanEck Oil Refiners ETF in the 1st quarter worth $1,792,000. GeoWealth Management LLC bought a new stake in shares of VanEck Oil Refiners ETF in the 4th quarter worth $1,000,000. Equitable Holdings Inc. acquired a new stake in shares of VanEck Oil Refiners ETF in the fourth quarter valued at $981,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of VanEck Oil Refiners ETF in the first quarter valued at $1,077,000.

VanEck Oil Refiners ETF Company Profile

The VanEck Oil Refiners ETF (CRAK) is an exchange-traded fund that is based on the MVIS Global Oil Refiners index. The fund tracks a market-cap index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. CRAK was launched on Aug 18, 2015 and is managed by VanEck.