VanEck Steel ETF (NYSEARCA:SLX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of VanEck Steel ETF (NYSEARCA:SLX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $89.00 and traded as high as $103.76. VanEck Steel ETF shares last traded at $103.42, with a volume of 29,082 shares changing hands.

VanEck Steel ETF Trading Up 2.3%

The firm has a 50 day moving average price of $95.54 and a 200-day moving average price of $89.00. The firm has a market cap of $159.27 million, a price-to-earnings ratio of 14.09 and a beta of 1.21.

Hedge Funds Weigh In On VanEck Steel ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLX. B. Riley Wealth Advisors Inc. acquired a new stake in shares of VanEck Steel ETF in the third quarter valued at approximately $429,000. Geneos Wealth Management Inc. acquired a new position in shares of VanEck Steel ETF during the 3rd quarter worth approximately $30,000. Ball & Co Wealth Management Inc. purchased a new stake in VanEck Steel ETF in the 3rd quarter valued at approximately $69,000. WT Wealth Management lifted its stake in VanEck Steel ETF by 7.0% in the 3rd quarter. WT Wealth Management now owns 11,679 shares of the exchange traded fund’s stock valued at $846,000 after buying an additional 759 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new stake in VanEck Steel ETF during the 4th quarter valued at $80,000.

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.