Angeles Wealth Management LLC Invests $500,000 in VanEck Steel ETF $SLX

Angeles Wealth Management LLC bought a new stake in VanEck Steel ETF (NYSEARCA:SLX) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 5,442 shares of the exchange traded fund’s stock, valued at approximately $500,000.

Other hedge funds have also modified their holdings of the company. Citizens Financial Group Inc. RI raised its position in VanEck Steel ETF by 1.5% in 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 in the last quarter. Farther Finance Advisors LLC boosted its position in shares of VanEck Steel ETF by 288.5% in the 4th quarter. Farther Finance Advisors LLC now owns 610 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 453 shares during the period. CoreCap Advisors LLC raised its position in VanEck Steel ETF by 286.6% in the 4th quarter. CoreCap Advisors LLC now owns 924 shares of the exchange traded fund’s stock valued at $78,000 after purchasing an additional 685 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of VanEck Steel ETF during the fourth quarter worth about $72,000. Finally, WT Wealth Management increased its holdings in shares of VanEck Steel ETF by 5.9% in the first quarter. WT Wealth Management now owns 15,610 shares of the exchange traded fund’s stock valued at $1,433,000 after purchasing an additional 865 shares during the period.

VanEck Steel ETF Stock Performance

SLX stock opened at $100.22 on Friday. The company has a fifty day moving average of $104.85 and a 200-day moving average of $98.51. VanEck Steel ETF has a one year low of $66.69 and a one year high of $114.00. The stock has a market capitalization of $160.35 million, a PE ratio of 14.09 and a beta of 1.24.

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.