VanEck Steel ETF (NYSEARCA:SLX) Shares Pass Above 200 Day Moving Average – Should You Sell?

VanEck Steel ETF (NYSEARCA:SLX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.78 and traded as high as $98.51. VanEck Steel ETF shares last traded at $98.24, with a volume of 86,610 shares changing hands.

VanEck Steel ETF Stock Up 2.7%

The firm has a market capitalization of $195.50 million, a PE ratio of 14.09 and a beta of 1.33. The business’s fifty day moving average price is $88.51 and its 200 day moving average price is $78.78.

Institutional Investors Weigh In On VanEck Steel ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of VanEck Steel ETF in the third quarter valued at about $25,000. Private Wealth Asset Management LLC acquired a new position in shares of VanEck Steel ETF during the second quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new stake in VanEck Steel ETF during the 3rd quarter worth $30,000. Farther Finance Advisors LLC increased its stake in shares of VanEck Steel ETF by 288.5% in the fourth quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 453 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new stake in shares of VanEck Steel ETF in the 3rd quarter valued at approximately $69,000.

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.