Verdence Capital Advisors LLC Purchases New Stake in VanEck Steel ETF (NYSEARCA:SLX)

Verdence Capital Advisors LLC purchased a new stake in shares of VanEck Steel ETF (NYSEARCA:SLX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,032 shares of the exchange traded fund’s stock, valued at approximately $297,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. grew its stake in VanEck Steel ETF by 1.8% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 88,996 shares of the exchange traded fund’s stock worth $5,835,000 after buying an additional 1,561 shares during the last quarter. Barometer Capital Management Inc. grew its stake in VanEck Steel ETF by 61.0% during the 3rd quarter. Barometer Capital Management Inc. now owns 12,400 shares of the exchange traded fund’s stock worth $813,000 after buying an additional 4,700 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in VanEck Steel ETF by 34.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,698 shares of the exchange traded fund’s stock worth $701,000 after buying an additional 2,759 shares during the last quarter. Proficio Capital Partners LLC bought a new position in VanEck Steel ETF during the 3rd quarter worth $336,000. Finally, AE Wealth Management LLC bought a new position in VanEck Steel ETF during the 3rd quarter worth $204,000.

VanEck Steel ETF Stock Performance

NYSEARCA:SLX opened at $69.75 on Wednesday. VanEck Steel ETF has a 1 year low of $55.19 and a 1 year high of $75.00. The stock has a market cap of $108.11 million, a price-to-earnings ratio of 6.25 and a beta of 1.27. The business has a fifty day moving average of $70.98 and a 200-day moving average of $69.25.

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.