VanEck Semiconductor ETF (NASDAQ:SMH) Hits New 12-Month High – Still a Buy?

VanEck Semiconductor ETF (NASDAQ:SMH) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $512.78 and last traded at $511.21, with a volume of 792514 shares changing hands. The stock had previously closed at $509.82.

VanEck Semiconductor ETF Stock Down 0.4%

The company has a market capitalization of $58.99 billion, a price-to-earnings ratio of 34.83 and a beta of 1.70. The business’s 50-day moving average is $420.20 and its 200-day moving average is $388.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMH. Y.D. More Investments Ltd raised its position in shares of VanEck Semiconductor ETF by 78.9% in the first quarter. Y.D. More Investments Ltd now owns 35,446 shares of the company’s stock worth $13,589,000 after acquiring an additional 15,633 shares during the period. Procyon Advisors LLC raised its position in shares of VanEck Semiconductor ETF by 75.2% in the first quarter. Procyon Advisors LLC now owns 2,329 shares of the company’s stock worth $893,000 after acquiring an additional 1,000 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of VanEck Semiconductor ETF in the first quarter worth about $8,514,000. Fifth Third Bancorp raised its position in shares of VanEck Semiconductor ETF by 3,245.2% in the first quarter. Fifth Third Bancorp now owns 11,608 shares of the company’s stock worth $4,450,000 after acquiring an additional 11,261 shares during the period. Finally, Sovran Advisors LLC raised its position in shares of VanEck Semiconductor ETF by 34.5% in the first quarter. Sovran Advisors LLC now owns 5,723 shares of the company’s stock worth $2,194,000 after acquiring an additional 1,467 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.