VanEck Steel ETF (NYSEARCA:SLX) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

VanEck Steel ETF (NYSEARCA:SLX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $82.65 and traded as high as $94.80. VanEck Steel ETF shares last traded at $93.18, with a volume of 67,147 shares traded.

VanEck Steel ETF Stock Down 2.7%

The stock has a market cap of $185.43 million, a PE ratio of 14.09 and a beta of 1.33. The firm has a fifty day moving average of $94.27 and a 200 day moving average of $82.65.

Institutional Investors Weigh In On VanEck Steel ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its stake in VanEck Steel ETF by 747.3% during the fourth quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock worth $3,533,000 after purchasing an additional 36,722 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of VanEck Steel ETF by 682.2% during the 4th quarter. Osaic Holdings Inc. now owns 5,976 shares of the exchange traded fund’s stock worth $507,000 after buying an additional 5,212 shares during the last quarter. Clark Capital Management Group Inc. acquired a new position in shares of VanEck Steel ETF in the 4th quarter valued at $1,437,000. Royal Bank of Canada boosted its holdings in shares of VanEck Steel ETF by 28.1% in the 4th quarter. Royal Bank of Canada now owns 7,728 shares of the exchange traded fund’s stock valued at $656,000 after buying an additional 1,695 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of VanEck Steel ETF in the 4th quarter valued at $835,000.

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.