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

VanEck Steel ETF (NYSEARCA:SLX) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $91.93 and traded as high as $106.74. VanEck Steel ETF shares last traded at $106.04, with a volume of 32,299 shares changing hands.

VanEck Steel ETF Trading Up 0.6%

The company has a market capitalization of $164.27 million, a P/E ratio of 14.09 and a beta of 1.21. The stock has a 50 day moving average price of $98.33 and a 200 day moving average price of $92.04.

Institutional Investors Weigh In On VanEck Steel ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI grew its holdings in VanEck Steel ETF by 1.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,175 shares of the exchange traded fund’s stock worth $609,000 after acquiring an additional 108 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in 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 valued at $52,000 after purchasing an additional 453 shares during the period. CoreCap Advisors LLC increased its holdings in VanEck Steel ETF by 286.6% in the fourth quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock valued at $78,000 after purchasing an additional 685 shares during the period. Kestra Advisory Services LLC acquired a new stake in VanEck Steel ETF in the fourth quarter valued at $72,000. Finally, WT Wealth Management increased its holdings in VanEck Steel ETF by 5.9% in the first quarter. WT Wealth Management now owns 15,610 shares of the exchange traded fund’s stock valued at $1,433,000 after purchasing an additional 865 shares during the period.

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.