VanEck Semiconductor ETF (NASDAQ:SMH) Sets New 1-Year High – Here’s Why

Shares of VanEck Semiconductor ETF (NASDAQ:SMH) hit a new 52-week high on Friday . The company traded as high as $581.36 and last traded at $581.30, with a volume of 2404291 shares. The stock had previously closed at $567.88.

VanEck Semiconductor ETF Stock Up 2.4%

The stock has a fifty day moving average of $460.01 and a two-hundred day moving average of $406.89. The stock has a market cap of $67.58 billion, a price-to-earnings ratio of 34.83 and a beta of 1.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in VanEck Semiconductor ETF by 4.8% during the first quarter. AQR Capital Management LLC now owns 2,381 shares of the company’s stock worth $504,000 after purchasing an additional 109 shares in the last quarter. Empowered Funds LLC boosted its position in VanEck Semiconductor ETF by 32.5% during the first quarter. Empowered Funds LLC now owns 11,789 shares of the company’s stock worth $2,493,000 after purchasing an additional 2,890 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in VanEck Semiconductor ETF by 28.6% during the second quarter. EverSource Wealth Advisors LLC now owns 477 shares of the company’s stock worth $133,000 after purchasing an additional 106 shares in the last quarter. First Trust Advisors LP purchased a new stake in VanEck Semiconductor ETF during the second quarter worth $370,000. Finally, Gamco Investors INC. ET AL purchased a new stake in VanEck Semiconductor ETF during the second quarter worth $1,116,000.

About VanEck Semiconductor ETF

The VanEck Semiconductor ETF (SMH) is an exchange-traded fund that is based on the MVIS US Listed Semiconductor 25 index, a market-cap-weighted index of 25 of the largest US-listed semiconductors companies. SMH was launched on May 5, 2000 and is managed by VanEck.