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

VanEck Oil Refiners ETF (NYSEARCA:CRAK) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 176,090 shares, a drop of 53.3% from the July 30th total of 377,396 shares. Based on an average daily trading volume, of 350,952 shares, the days-to-cover ratio is currently 0.5 days. Currently, 4.0% of the shares of the company are sold short.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Journey Advisory Group LLC lifted its holdings in VanEck Oil Refiners ETF by 135.5% during the first quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock valued at $11,529,000 after purchasing an additional 134,273 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of VanEck Oil Refiners ETF in the first quarter worth about $1,792,000. Flow Traders U.S. LLC raised its position in shares of VanEck Oil Refiners ETF by 46.0% in the third quarter. Flow Traders U.S. LLC now owns 32,510 shares of the company’s stock valued at $1,193,000 after purchasing an additional 10,239 shares during the period. LPL Financial LLC raised its position in shares of VanEck Oil Refiners ETF by 38.3% in the fourth quarter. LPL Financial LLC now owns 28,662 shares of the company’s stock valued at $1,075,000 after purchasing an additional 7,930 shares during the period. Finally, GeoWealth Management LLC bought a new stake in shares of VanEck Oil Refiners ETF in the fourth quarter valued at approximately $1,000,000.

VanEck Oil Refiners ETF Price Performance

Shares of CRAK traded up $1.22 during mid-day trading on Monday, hitting $61.41. The stock had a trading volume of 455,790 shares, compared to its average volume of 163,729. VanEck Oil Refiners ETF has a 52 week low of $35.06 and a 52 week high of $61.80. The business has a fifty day moving average price of $53.64 and a 200-day moving average price of $49.74. The firm has a market cap of $270.20 million, a P/E ratio of 13.16 and a beta of 0.52.

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.