For traders searching for momentum, VanEck Metal ETF SLX might be on the radar. The fund simply hit a 52-week excessive and is up 29.7% from its 52-week low of $57.31per share.
However are extra positive factors in retailer for this ETF? Let’s take a fast take a look at the fund and the near-term outlook on it to get a greater concept of the place it may be headed:
SLX in Focus
The underlying NYSE Arca Metal Index tracks the general efficiency of corporations concerned within the metal sector. The ETF fees 56 bps in annual charges. The ETF yields 3.28% yearly (see: all the Materials ETFs here).
Why the Transfer?
President Donald Trump signed an government order in early February imposing a 25% tariff on metal and aluminum imports from all international locations.The tariffs, set to take impact on March 4, apply with out exceptions or exemptions. Metal ETF SLX has been in nice form following the announcement of Trump tariffs (learn: ETFs to Win/Lose as Trump Imposes 25% Tariffs on Steel and Aluminum).
Extra Features Forward?
The SLX ETF may not proceed its robust efficiency within the close to time period, with a negative weighted alpha of 8.15 (as per Barchart.com). Its potential for additional run might be restricted.
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VanEck Steel ETF (SLX): ETF Research Reports
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