VanEck Steel ETF (NYSEARCA:SLX) Shares Cross Above 200-Day Moving Average – Should You Sell?

VanEck Steel ETF (NYSEARCA:SLX)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $87.95 and traded as high as $102.93. VanEck Steel ETF shares last traded at $102.61, with a volume of 26,148 shares.

VanEck Steel ETF Stock Up 0.3%

The stock’s 50 day moving average is $95.24 and its two-hundred day moving average is $88.23. The company has a market capitalization of $156.40 million, a PE ratio of 14.09 and a beta of 1.21.

Institutional Trading of VanEck Steel ETF

A number of hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in VanEck Steel ETF by 248.9% in the fourth quarter. LPL Financial LLC now owns 122,968 shares of the exchange traded fund’s stock worth $10,435,000 after acquiring an additional 87,726 shares during the period. Raymond James Financial Inc. lifted its stake in VanEck Steel ETF by 3.9% in the third quarter. Raymond James Financial Inc. now owns 96,849 shares of the exchange traded fund’s stock worth $7,020,000 after acquiring an additional 3,655 shares during the period. UBS Group AG lifted its stake in VanEck Steel ETF by 241.1% in the third quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock worth $4,283,000 after acquiring an additional 41,768 shares during the period. Cetera Investment Advisers lifted its stake in VanEck Steel ETF by 747.3% in 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 during the period. Finally, Jane Street Group LLC purchased a new stake in VanEck Steel ETF in the fourth quarter worth about $2,254,000.

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.