Client First Investment Management LLC Acquires New Position in VanEck Steel ETF $SLX

Client First Investment Management LLC acquired a new stake in shares of VanEck Steel ETF (NYSEARCA:SLX) during the 4th quarter, Holdings Channel reports. The fund acquired 11,620 shares of the exchange traded fund’s stock, valued at approximately $986,000. VanEck Steel ETF makes up 0.5% of Client First Investment Management LLC’s holdings, making the stock its 15th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of VanEck Steel ETF during the third quarter valued at approximately $429,000. Mutual Advisors LLC purchased a new position in shares of VanEck Steel ETF during the fourth quarter valued at approximately $595,000. Bank of America Corp DE raised its stake in VanEck Steel ETF by 99.2% during the third quarter. Bank of America Corp DE now owns 21,065 shares of the exchange traded fund’s stock worth $1,527,000 after purchasing an additional 10,492 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in VanEck Steel ETF during the fourth quarter worth approximately $247,000. Finally, Cornerstone Management Inc. purchased a new position in VanEck Steel ETF during the fourth quarter worth approximately $234,000.

VanEck Steel ETF Stock Up 0.3%

NYSEARCA:SLX opened at $110.37 on Thursday. The company has a market cap of $169.97 million, a P/E ratio of 14.09 and a beta of 1.21. VanEck Steel ETF has a fifty-two week low of $61.37 and a fifty-two week high of $110.41. The firm’s 50 day moving average is $99.51 and its two-hundred day moving average is $92.80.

VanEck Steel ETF 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.