VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) Shares Down 2.3% – Should You Sell?

VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) shares fell 2.3% on Monday. The company traded as low as $59.47 and last traded at $60.04. 37,619 shares changed hands during trading, a decline of 61% from the average daily volume of 97,261 shares. The stock had previously closed at $61.48.

VanEck Fabless Semiconductor ETF Stock Up 0.3%

The firm has a market capitalization of $274.25 million, a price-to-earnings ratio of 41.26 and a beta of 2.42. The company has a 50-day moving average price of $56.71 and a 200-day moving average price of $54.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Concorde Asset Management LLC bought a new stake in shares of VanEck Fabless Semiconductor ETF during the second quarter valued at about $283,000. Western Wealth Management LLC bought a new position in VanEck Fabless Semiconductor ETF in the 1st quarter valued at about $178,000. Maridea Wealth Management LLC acquired a new position in VanEck Fabless Semiconductor ETF during the 1st quarter valued at about $259,000. Cetera Investment Advisers increased its stake in VanEck Fabless Semiconductor ETF by 15.9% during the 1st quarter. Cetera Investment Advisers now owns 8,236 shares of the company’s stock valued at $307,000 after buying an additional 1,129 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of VanEck Fabless Semiconductor ETF by 24.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,550 shares of the company’s stock worth $610,000 after buying an additional 1,893 shares in the last quarter.

About VanEck Fabless Semiconductor ETF

The VanEck Fabless Semiconductor ETF (SMHX) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of US companies that design and develop semiconductor chips but outsources their manufacturing. Selection and weighting are based on free-float market capitalization. SMHX was launched on Aug 27, 2024 and is issued by VanEck.