Verdence Capital Advisors LLC Invests $297,000 in VanEck Steel ETF (NYSEARCA:SLX)

Verdence Capital Advisors LLC acquired a new stake in VanEck Steel ETF (NYSEARCA:SLX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,032 shares of the exchange traded fund’s stock, valued at approximately $297,000. Verdence Capital Advisors LLC owned about 0.22% of VanEck Steel ETF at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew its position in VanEck Steel ETF by 1.8% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 88,996 shares of the exchange traded fund’s stock valued at $5,835,000 after buying an additional 1,561 shares during the last quarter. Barometer Capital Management Inc. grew its position in VanEck Steel ETF by 61.0% in the 3rd quarter. Barometer Capital Management Inc. now owns 12,400 shares of the exchange traded fund’s stock valued at $813,000 after buying an additional 4,700 shares during the last quarter. U S Global Investors Inc. acquired a new stake in VanEck Steel ETF in the fourth quarter valued at $37,000. Cambridge Investment Research Advisors Inc. lifted its holdings in VanEck Steel ETF by 34.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,698 shares of the exchange traded fund’s stock valued at $701,000 after acquiring an additional 2,759 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in VanEck Steel ETF in the third quarter valued at $204,000.

VanEck Steel ETF Stock Performance

VanEck Steel ETF stock opened at $69.75 on Wednesday. VanEck Steel ETF has a one year low of $55.19 and a one year high of $75.00. The business has a fifty day moving average of $70.98 and a two-hundred day moving average of $69.25. The company has a market cap of $108.11 million, a P/E ratio of 6.25 and a beta of 1.27.

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.