VanEck Steel ETF (NYSEARCA:SLX) Stock Breaks Above 200 Day Moving Average – Should You Sell?

VanEck Steel ETF (NYSEARCA:SLX) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $102.97 and traded as high as $104.92. VanEck Steel ETF shares last traded at $104.80, with a volume of 9,943 shares.

VanEck Steel ETF Stock Performance

The stock has a market capitalization of $164.54 million, a P/E ratio of 14.09 and a beta of 1.24. The business has a 50 day simple moving average of $107.12 and a 200-day simple moving average of $102.97.

Institutional Trading of VanEck Steel ETF

Several institutional investors have recently modified their holdings of SLX. NewEdge Advisors LLC acquired a new position in VanEck Steel ETF during the first quarter worth about $1,408,000. Foundations Investment Advisors LLC acquired a new stake in VanEck Steel ETF in the 4th quarter valued at about $1,217,000. Schuylkill Financial LLC acquired a new stake in VanEck Steel ETF in the 2nd quarter valued at about $869,000. Angeles Wealth Management LLC bought a new position in shares of VanEck Steel ETF during the 1st quarter valued at about $500,000. Finally, JBGlobal.com LLC bought a new position in shares of VanEck Steel ETF during the 2nd quarter valued at about $318,000.

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.