VanEck Steel ETF (NYSEARCA:SLX) Shares Cross Above 200 Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Shares of VanEck Steel ETF (NYSEARCA:SLX – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $90.80 and traded as high as $110.03. VanEck Steel ETF shares last traded at $109.77, with a volume of 66,828 shares.

VanEck Steel ETF Price Performance

The stock has a market cap of $163.07 million, a P/E ratio of 14.09 and a beta of 1.21. The business’s fifty day moving average price is $97.04 and its 200 day moving average price is $91.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new position in shares of VanEck Steel ETF in the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its holdings 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 acquiring an additional 453 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of VanEck Steel ETF in the fourth quarter worth about $72,000. CoreCap Advisors LLC lifted its holdings in shares of VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock worth $78,000 after acquiring an additional 685 shares during the last quarter. Finally, Advisors Preferred LLC bought a new position in shares of VanEck Steel ETF in the fourth quarter worth about $80,000.

About VanEck Steel ETF

(Get Free Report)

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.

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