VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 27,600 shares, a drop of 33.7% from the September 30th total of 41,600 shares. Based on an average trading volume of 26,200 shares, the short-interest ratio is currently 1.1 days. Approximately 1.9% of the company’s stock are sold short. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 26,200 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On VanEck Steel ETF

A number of hedge funds have recently made changes to their positions in SLX. Highline Wealth Partners LLC bought a new stake in shares of VanEck Steel ETF during the 3rd quarter worth $25,000. Private Wealth Asset Management LLC bought a new stake in shares of VanEck Steel ETF during the 2nd quarter worth $26,000. Geneos Wealth Management Inc. bought a new stake in shares of VanEck Steel ETF during the 3rd quarter worth $30,000. Ball & Co Wealth Management Inc. bought a new stake in shares of VanEck Steel ETF during the 3rd quarter worth $69,000. Finally, Griffin Asset Management Inc. bought a new stake in shares of VanEck Steel ETF during the 3rd quarter worth $263,000.

VanEck Steel ETF Trading Down 0.5%

Shares of SLX stock traded down $0.42 during trading on Monday, hitting $78.94. The company’s stock had a trading volume of 23,850 shares, compared to its average volume of 19,707. The company has a market cap of $119.99 million, a PE ratio of 14.09 and a beta of 1.33. The business has a fifty day moving average of $73.73 and a 200-day moving average of $68.65. VanEck Steel ETF has a 52 week low of $51.69 and a 52 week high of $81.22.

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.