VanEck Steel ETF (NYSEARCA:SLX) Short Interest Update

VanEck Steel ETF (NYSEARCA:SLX) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 65,695 shares, a growth of 143.6% from the July 15th total of 26,966 shares. Based on an average daily volume of 28,844 shares, the short-interest ratio is presently 2.3 days. Currently, 4.1% of the company’s stock are sold short.

VanEck Steel ETF Stock Down 0.5%

SLX stock traded down $0.54 during trading on Friday, hitting $107.96. 11,459 shares of the company’s stock traded hands, compared to its average volume of 51,654. The firm has a market capitalization of $172.74 million, a P/E ratio of 14.09 and a beta of 1.23. VanEck Steel ETF has a 1 year low of $68.20 and a 1 year high of $114.00. The business has a fifty day simple moving average of $103.74 and a two-hundred day simple moving average of $100.81.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC bought a new stake in shares of VanEck Steel ETF in the 4th quarter valued at about $1,217,000. Angeles Wealth Management LLC purchased a new position in shares of VanEck Steel ETF in the 1st quarter worth approximately $500,000. Mutual Advisors LLC bought a new position in shares of VanEck Steel ETF during the 4th quarter worth approximately $595,000. Client First Investment Management LLC bought a new position in shares of VanEck Steel ETF during the 4th quarter worth approximately $986,000. Finally, Fifth Third Bancorp bought a new position in shares of VanEck Steel ETF during the 1st quarter worth approximately $110,000.

VanEck Steel ETF Company Profile

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.