VanEck Steel ETF (NYSEARCA:SLX) Stock 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 $89.00 and traded as high as $103.76. VanEck Steel ETF shares last traded at $103.42, with a volume of 29,082 shares changing hands.

VanEck Steel ETF Trading Up 0.0%

The company has a market capitalization of $159.31 million, a price-to-earnings ratio of 14.09 and a beta of 1.21. The firm has a 50-day moving average price of $95.54 and a 200-day moving average price of $89.00.

Hedge Funds Weigh In On VanEck Steel ETF

Several hedge funds have recently modified their holdings of the company. Citizens Financial Group Inc. RI increased its position in shares of VanEck Steel ETF by 1.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,175 shares of the exchange traded fund’s stock valued at $609,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of VanEck Steel ETF during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC boosted its stake in shares of VanEck Steel ETF by 288.5% during the 4th quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock worth $52,000 after acquiring an additional 453 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of VanEck Steel ETF by 286.6% during the 4th quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock worth $78,000 after acquiring an additional 685 shares in the last quarter. Finally, WT Wealth Management boosted its stake in shares of VanEck Steel ETF by 7.0% during the 3rd quarter. WT Wealth Management now owns 11,679 shares of the exchange traded fund’s stock worth $846,000 after acquiring an additional 759 shares in the last quarter.

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. 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.