VanEck Semiconductor ETF (NASDAQ:SMH) Stock Falls 1.1% – Here’s What Happened

VanEck Semiconductor ETF (NASDAQ:SMH) shares traded down 1.1% during trading on Thursday. The company traded as low as $555.50 and last traded at $561.67. 5,820,492 shares were traded during trading, a decline of 37% from the average session volume of 9,295,948 shares. The stock had previously closed at $567.67.

VanEck Semiconductor ETF Stock Performance

The stock has a market cap of $66.59 billion, a price-to-earnings ratio of 34.83 and a beta of 1.73. The company’s 50 day simple moving average is $572.62 and its two-hundred day simple moving average is $518.19.

Hedge Funds Weigh In On VanEck Semiconductor ETF

A number of hedge funds have recently modified their holdings of SMH. Kestra Private Wealth Services LLC raised its stake in shares of VanEck Semiconductor ETF by 5.2% in the third quarter. Kestra Private Wealth Services LLC now owns 30,165 shares of the company’s stock valued at $18,370,000 after purchasing an additional 1,493 shares in the last quarter. Sageworth Trust Co boosted its stake in VanEck Semiconductor ETF by 8.3% during the third quarter. Sageworth Trust Co now owns 1,687 shares of the company’s stock worth $1,027,000 after buying an additional 130 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in VanEck Semiconductor ETF during the third quarter worth $2,113,000. Basso Capital Management L.P. acquired a new stake in VanEck Semiconductor ETF during the third quarter worth $9,249,000. Finally, SFI Advisors LLC increased its holdings in VanEck Semiconductor ETF by 1.9% in the 3rd quarter. SFI Advisors LLC now owns 6,041 shares of the company’s stock valued at $3,679,000 after buying an additional 113 shares during the period.

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.