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

Shares of VanEck Steel ETF (NYSEARCA:SLX) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $97.89 and traded as low as $96.20. VanEck Steel ETF shares last traded at $97.33, with a volume of 34,461 shares traded.

VanEck Steel ETF Stock Performance

The firm has a market cap of $167.41 million, a P/E ratio of 14.09 and a beta of 1.24. The business’s 50-day simple moving average is $105.56 and its 200 day simple moving average is $97.89.

Institutional Trading of VanEck Steel ETF

Several large investors have recently modified their holdings of SLX. Farther Finance Advisors LLC increased its position in VanEck Steel ETF by 288.5% during the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock valued at $52,000 after acquiring an additional 453 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of VanEck Steel ETF during the 4th quarter valued at about $72,000. CoreCap Advisors LLC grew its stake in shares of VanEck Steel ETF by 286.6% during the 4th quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock valued at $78,000 after purchasing an additional 685 shares during the period. Advisors Preferred LLC purchased a new stake in shares of VanEck Steel ETF during the 4th quarter valued at about $80,000. Finally, Fifth Third Bancorp purchased a new stake in shares of VanEck Steel ETF during the 1st quarter valued at about $110,000.

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. 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.