VanEck Steel ETF (NYSEARCA:SLX) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of VanEck Steel ETF (NYSEARCA:SLX) crossed 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.

VanEck Steel ETF Stock Performance

The firm has a fifty day simple moving average of $98.06 and a 200-day simple moving average of $91.93. The company has a market capitalization of $163.30 million, a PE ratio of 14.09 and a beta of 1.21.

Institutional Investors Weigh In On VanEck Steel ETF

Several hedge funds and other institutional investors have recently bought and sold shares of SLX. LPL Financial LLC increased its holdings in VanEck Steel ETF by 248.9% during the 4th 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 during the last quarter. UBS Group AG increased its holdings in shares of VanEck Steel ETF by 241.1% in the 3rd quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock valued at $4,283,000 after acquiring an additional 41,768 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of VanEck Steel ETF by 747.3% in the 4th quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock valued at $3,533,000 after acquiring an additional 36,722 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of VanEck Steel ETF in the 4th quarter valued at approximately $2,254,000. Finally, Clark Capital Management Group Inc. bought a new stake in shares of VanEck Steel ETF in the 4th quarter valued at approximately $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.