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

VanEck Steel ETF (NYSEARCA:SLX)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $83.55 and traded as high as $90.88. VanEck Steel ETF shares last traded at $88.28, with a volume of 161,103 shares traded.

VanEck Steel ETF Stock Down 2.2%

The company’s fifty day moving average is $94.96 and its two-hundred day moving average is $83.55. The stock has a market cap of $175.68 million, a price-to-earnings ratio of 14.09 and a beta of 1.33.

Institutional Trading of VanEck Steel ETF

Several large investors have recently modified their holdings of SLX. Highline Wealth Partners LLC acquired a new stake in VanEck Steel ETF during the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in shares of VanEck Steel ETF during the 3rd quarter worth $30,000. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 453 shares during the period. Ball & Co Wealth Management Inc. acquired a new stake in shares of VanEck Steel ETF during the 3rd quarter worth approximately $69,000. Finally, Kestra Advisory Services LLC bought a new position in shares of VanEck Steel ETF in the fourth quarter valued at approximately $72,000.

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.