VanEck Steel ETF (NYSEARCA:SLX) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of VanEck Steel ETF (NYSEARCA:SLX) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $69.46 and traded as high as $78.87. VanEck Steel ETF shares last traded at $78.46, with a volume of 8,666 shares changing hands.

VanEck Steel ETF Price Performance

The company has a market cap of $121.61 million, a P/E ratio of 14.09 and a beta of 1.33. The stock has a fifty day moving average price of $74.55 and a two-hundred day moving average price of $69.46.

Hedge Funds Weigh In On VanEck Steel ETF

A number of hedge funds have recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of VanEck Steel ETF in the 3rd quarter worth $25,000. Private Wealth Asset Management LLC purchased a new position in VanEck Steel ETF during the second quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new position in VanEck Steel ETF during the third quarter worth about $30,000. WT Wealth Management grew its position in VanEck Steel ETF by 7.0% in the 3rd quarter. WT Wealth Management now owns 11,679 shares of the exchange traded fund’s stock worth $846,000 after purchasing an additional 759 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new stake in VanEck Steel ETF in the 3rd quarter valued at about $69,000.

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.