VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) Shares Up 3% – Here’s Why

VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) shot up 3% during mid-day trading on Monday . The stock traded as high as $40.25 and last traded at $40.10. 100,114 shares traded hands during trading, a decline of 7% from the average session volume of 107,291 shares. The stock had previously closed at $38.94.

VanEck Fabless Semiconductor ETF Stock Performance

The company has a market cap of $164.41 million, a P/E ratio of 41.26 and a beta of 1.75. The business has a fifty day simple moving average of $38.60 and a 200 day simple moving average of $33.47.

Hedge Funds Weigh In On VanEck Fabless Semiconductor ETF

A number of hedge funds have recently added to or reduced their stakes in SMHX. PNC Financial Services Group Inc. bought a new stake in VanEck Fabless Semiconductor ETF during the second quarter valued at $31,000. Apollon Wealth Management LLC acquired a new position in shares of VanEck Fabless Semiconductor ETF in the 3rd quarter valued at about $243,000. Pennsylvania Capital Management Inc. ADV bought a new stake in shares of VanEck Fabless Semiconductor ETF during the 2nd quarter valued at about $290,000. Grimes & Company Inc. acquired a new stake in VanEck Fabless Semiconductor ETF during the second quarter worth about $428,000. Finally, Jane Street Group LLC acquired a new stake in VanEck Fabless Semiconductor ETF during the second quarter worth about $434,000.

About VanEck Fabless Semiconductor ETF

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.