Steel ETF (SLX) Hits New 52-Week High

For investors seeking momentum, VanEck Steel ETF (SLX) is probably on the radar. The fund just hit a 52-week high and has risen 57.3% from its 52-week low of $51.69 per share.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea of where it might head:SLX in FocusThe underlying NYSE Arca Steel Index tracks the overall performance of companies involved in the steel sector. The product charges 56 bps in annual fees (See: All Materials ETFs ...