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

VanEck Steel ETF (NYSEARCA:SLX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $99.26 and traded as high as $104.30. VanEck Steel ETF shares last traded at $104.10, with a volume of 80,550 shares trading hands.

VanEck Steel ETF Stock Up 0.6%

The company has a fifty day moving average price of $104.12 and a 200 day moving average price of $99.26. The stock has a market cap of $166.56 million, a PE ratio of 14.09 and a beta of 1.24.

Hedge Funds Weigh In On VanEck Steel ETF

A number of large investors have recently bought and sold shares of the stock. CoreCap Advisors LLC lifted its position in VanEck Steel ETF by 37.8% in the second quarter. CoreCap Advisors LLC now owns 2,413 shares of the exchange traded fund’s stock valued at $237,000 after purchasing an additional 662 shares during the last quarter. JBGlobal.com LLC bought a new position in shares of VanEck Steel ETF in the second quarter worth approximately $318,000. Western Wealth Management LLC purchased a new position in shares of VanEck Steel ETF in the first quarter worth $142,000. NewEdge Advisors LLC purchased a new position in shares of VanEck Steel ETF in the first quarter worth $1,408,000. Finally, Bank of America Corp DE increased its stake in shares of VanEck Steel ETF by 12.5% in the first quarter. Bank of America Corp DE now owns 28,573 shares of the exchange traded fund’s stock worth $2,623,000 after buying an additional 3,171 shares during the period.

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.