VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) Sees Large Decline in Short Interest

VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 72,635 shares, a drop of 36.9% from the April 30th total of 115,059 shares. Based on an average daily volume of 99,011 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.8% of the company’s stock are sold short.

Institutional Trading of VanEck Fabless Semiconductor ETF

Several institutional investors have recently added to or reduced their stakes in SMHX. Steward Partners Investment Advisory LLC bought a new stake in shares of VanEck Fabless Semiconductor ETF in the 4th quarter worth about $26,000. Global Retirement Partners LLC raised its stake in VanEck Fabless Semiconductor ETF by 839.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,090 shares of the company’s stock valued at $41,000 after buying an additional 974 shares in the last quarter. Farther Finance Advisors LLC bought a new position in VanEck Fabless Semiconductor ETF during the 4th quarter worth approximately $79,000. Western Wealth Management LLC bought a new position in VanEck Fabless Semiconductor ETF during the 1st quarter worth approximately $178,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of VanEck Fabless Semiconductor ETF in the 4th quarter worth approximately $202,000.

VanEck Fabless Semiconductor ETF Price Performance

Shares of SMHX opened at $63.46 on Wednesday. The business’s 50 day moving average is $48.73 and its two-hundred day moving average is $42.22. VanEck Fabless Semiconductor ETF has a 52-week low of $27.83 and a 52-week high of $67.23. The firm has a market cap of $251.94 million, a price-to-earnings ratio of 41.26 and a beta of 2.28.

VanEck Fabless Semiconductor ETF Company Profile

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.