VanEck Steel ETF (NYSEARCA:SLX) Stock Passes Above 200-Day Moving Average – What’s Next?

VanEck Steel ETF (NYSEARCA:SLX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $67.43 and traded as high as $78.00. VanEck Steel ETF shares last traded at $77.86, with a volume of 36,692 shares.

VanEck Steel ETF Stock Performance

The firm has a market capitalization of $115.23 million, a PE ratio of 14.09 and a beta of 1.35. The company has a fifty day moving average price of $72.57 and a 200-day moving average price of $67.43.

Hedge Funds Weigh In On VanEck Steel ETF

Large investors have recently modified their holdings of the stock. LPL Financial LLC increased its position in shares of VanEck Steel ETF by 44.6% during the 1st quarter. LPL Financial LLC now owns 21,673 shares of the exchange traded fund’s stock valued at $1,333,000 after purchasing an additional 6,681 shares during the last quarter. Private Wealth Asset Management LLC bought a new position in shares of VanEck Steel ETF during the 2nd quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new position in shares of VanEck Steel ETF during the 3rd quarter valued at approximately $30,000. Ball & Co Wealth Management Inc. bought a new position in shares of VanEck Steel ETF during the 3rd quarter valued at approximately $69,000. Finally, WT Wealth Management increased its position in shares of VanEck Steel ETF by 7.0% during the 3rd quarter. WT Wealth Management now owns 11,679 shares of the exchange traded fund’s stock valued at $846,000 after purchasing an additional 759 shares during the last quarter.

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.