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

VanEck Steel ETF (NYSEARCA:SLX) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $101.73 and traded as high as $109.28. VanEck Steel ETF shares last traded at $108.01, with a volume of 6,359 shares trading hands.

VanEck Steel ETF Price Performance

The firm has a market capitalization of $175.20 million, a price-to-earnings ratio of 14.09 and a beta of 1.23. The business has a 50 day moving average of $103.97 and a 200 day moving average of $101.78.

Institutional Investors Weigh In On VanEck Steel ETF

Large investors have recently bought and sold shares of the company. LPL Financial LLC boosted its position in shares of VanEck Steel ETF by 248.9% during the fourth quarter. LPL Financial LLC now owns 122,968 shares of the exchange traded fund’s stock worth $10,435,000 after purchasing an additional 87,726 shares in the last quarter. UBS Group AG raised its stake in VanEck Steel ETF by 241.1% during the 3rd quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock worth $4,283,000 after buying an additional 41,768 shares during the period. Cetera Investment Advisers lifted its holdings in VanEck Steel ETF by 747.3% during the fourth quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock worth $3,533,000 after acquiring an additional 36,722 shares in the last quarter. Jane Street Group LLC acquired a new position in VanEck Steel ETF in the fourth quarter valued at about $2,254,000. Finally, Clark Capital Management Group Inc. acquired a new position in VanEck Steel ETF in the fourth quarter valued at about $1,437,000.

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.