NewEdge Advisors LLC Purchases New Position in VanEck Steel ETF $SLX

NewEdge Advisors LLC purchased a new stake in shares of VanEck Steel ETF (NYSEARCA:SLX) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 15,340 shares of the exchange traded fund’s stock, valued at approximately $1,408,000.

A number of other large investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in VanEck Steel ETF by 288.5% in the 4th quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after purchasing an additional 453 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of VanEck Steel ETF during the 4th quarter worth approximately $72,000. Advisors Preferred LLC purchased a new position in shares of VanEck Steel ETF during the 4th quarter valued at approximately $80,000. Fifth Third Bancorp purchased a new position in shares of VanEck Steel ETF during the 1st quarter valued at approximately $110,000. Finally, Western Wealth Management LLC acquired a new position in shares of VanEck Steel ETF in the 1st quarter valued at $142,000.

VanEck Steel ETF Price Performance

SLX opened at $107.96 on Monday. The firm has a fifty day moving average price of $103.77 and a 200 day moving average price of $100.90. VanEck Steel ETF has a 1 year low of $68.20 and a 1 year high of $114.00. The stock has a market cap of $172.74 million, a P/E ratio of 14.09 and a beta of 1.23.

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. 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.