B. Riley Wealth Advisors Inc. Makes New Investment in VanEck Steel ETF $SLX

B. Riley Wealth Advisors Inc. acquired a new stake in VanEck Steel ETF (NYSEARCA:SLX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,922 shares of the exchange traded fund’s stock, valued at approximately $429,000.

A number of other hedge funds have also modified their holdings of the business. Private Wealth Asset Management LLC acquired a new position in shares of VanEck Steel ETF in the 2nd quarter valued at $26,000. WT Wealth Management purchased a new position in VanEck Steel ETF during the 2nd quarter worth $722,000. Highline Wealth Partners LLC acquired a new position in VanEck Steel ETF in the third quarter valued at $25,000. Griffin Asset Management Inc. purchased a new stake in shares of VanEck Steel ETF in the third quarter valued at about $263,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of VanEck Steel ETF during the third quarter worth about $30,000.

VanEck Steel ETF Stock Up 1.2%

NYSEARCA SLX opened at $96.99 on Friday. The firm has a market cap of $190.10 million, a P/E ratio of 14.09 and a beta of 1.33. VanEck Steel ETF has a 52-week low of $51.69 and a 52-week high of $98.24. The business’s 50-day moving average price is $86.49 and its 200 day moving average price is $77.68.

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.