VanEck Semiconductor ETF (NASDAQ:SMH) Sets New 12-Month High – Here’s Why

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

VanEck Semiconductor ETF Stock Up 1.5%

The company’s 50-day moving average is $463.51 and its two-hundred day moving average is $408.08. The company has a market capitalization of $66.96 billion, a P/E ratio of 34.83 and a beta of 1.70.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMH. AQR Capital Management LLC increased its position in shares of VanEck Semiconductor ETF by 4.8% in 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 during the last quarter. Empowered Funds LLC boosted its stake in VanEck Semiconductor ETF by 32.5% in the first quarter. Empowered Funds LLC now owns 11,789 shares of the company’s stock worth $2,493,000 after buying an additional 2,890 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in VanEck Semiconductor ETF by 28.6% in the second quarter. EverSource Wealth Advisors LLC now owns 477 shares of the company’s stock worth $133,000 after buying an additional 106 shares in the last quarter. First Trust Advisors LP purchased a new stake in VanEck Semiconductor ETF in the second quarter worth approximately $370,000. Finally, Gamco Investors INC. ET AL purchased a new stake in VanEck Semiconductor ETF in the second quarter worth approximately $1,116,000.

VanEck Semiconductor ETF Company Profile

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.