VanEck Steel ETF (NYSEARCA:SLX) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

VanEck Steel ETF (NYSEARCA:SLX)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $69.46 and traded as high as $78.87. VanEck Steel ETF shares last traded at $78.46, with a volume of 8,666 shares trading hands.

VanEck Steel ETF Stock Performance

The business has a 50 day moving average of $74.55 and a two-hundred day moving average of $69.46. The firm has a market capitalization of $121.61 million, a price-to-earnings ratio of 14.09 and a beta of 1.33.

Hedge Funds Weigh In On VanEck Steel ETF

A number of institutional investors have recently modified their holdings of SLX. B. Riley Wealth Advisors Inc. acquired a new stake in VanEck Steel ETF in the 3rd quarter valued at $429,000. Ball & Co Wealth Management Inc. bought a new position in shares of VanEck Steel ETF in the third quarter valued at $69,000. Geneos Wealth Management Inc. acquired a new position in shares of VanEck Steel ETF during the third quarter valued at about $30,000. WT Wealth Management grew its holdings in shares of VanEck Steel ETF by 7.0% during the third 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 during the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in shares of VanEck Steel ETF during the third quarter worth about $263,000.

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.