VanEck Natural Resources ETF (NYSEARCA:HAP) Sees Significant Decline in Short Interest

VanEck Natural Resources ETF (NYSEARCA:HAP) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 8,798 shares, a drop of 43.0% from the July 30th total of 15,432 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 25,721 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On VanEck Natural Resources ETF

Several hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in VanEck Natural Resources ETF during the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. acquired a new position in VanEck Natural Resources ETF in the 4th quarter valued at approximately $42,000. Ascentis Independent Advisors bought a new position in shares of VanEck Natural Resources ETF during the first quarter valued at $101,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of VanEck Natural Resources ETF during the fourth quarter valued at $90,000. Finally, Arax Advisory Partners bought a new position in shares of VanEck Natural Resources ETF during the fourth quarter valued at $97,000.

VanEck Natural Resources ETF Stock Down 0.6%

Shares of HAP stock traded down $0.43 during mid-day trading on Friday, reaching $76.30. 14,509 shares of the stock traded hands, compared to its average volume of 33,142. The company has a market cap of $324.27 million, a price-to-earnings ratio of 16.60 and a beta of 0.65. The stock’s fifty day simple moving average is $71.50 and its two-hundred day simple moving average is $71.82. VanEck Natural Resources ETF has a 1-year low of $54.83 and a 1-year high of $77.49.

About VanEck Natural Resources ETF

The VanEck Natural Resources ETF (HAP) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a consumption-based index of global hard asset firms. HAP was launched on Aug 29, 2008 and is managed by VanEck.