VanEck Semiconductor ETF (NASDAQ:SMH) Stock Price Down 2.7% – Here’s What Happened

VanEck Semiconductor ETF (NASDAQ:SMH)’s share price dropped 2.7% during mid-day trading on Wednesday. The company traded as low as $497.33 and last traded at $504.27. 13,109,821 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 9,348,559 shares. The stock had previously closed at $518.52.

VanEck Semiconductor ETF Price Performance

The stock has a market cap of $58.92 billion, a P/E ratio of 34.83 and a beta of 1.78. The business’s fifty day moving average price is $565.60 and its 200 day moving average price is $520.56.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMH. Moors & Cabot Inc. purchased a new position in shares of VanEck Semiconductor ETF in the 3rd quarter valued at approximately $1,748,000. Valmark Advisers Inc. purchased a new stake in VanEck Semiconductor ETF in the third quarter worth $972,000. Allworth Financial LP raised its holdings in VanEck Semiconductor ETF by 0.9% in the third quarter. Allworth Financial LP now owns 8,725 shares of the company’s stock worth $5,723,000 after purchasing an additional 75 shares in the last quarter. SVB Wealth LLC bought a new position in VanEck Semiconductor ETF in the third quarter worth $334,000. Finally, Private Advisory Group LLC grew its position in shares of VanEck Semiconductor ETF by 7,726.4% in the 3rd quarter. Private Advisory Group LLC now owns 25,201 shares of the company’s stock worth $15,348,000 after buying an additional 24,879 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.