VanEck Semiconductor ETF (NASDAQ:SMH) Sees Significant Drop in Short Interest

VanEck Semiconductor ETF (NASDAQ:SMH) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 8,220,000 shares, a drop of 18.1% from the September 15th total of 10,040,000 shares. Based on an average daily trading volume, of 8,827,400 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Trading of VanEck Semiconductor ETF

Several hedge funds have recently bought and sold shares of the stock. Iams Wealth Management LLC bought a new stake in VanEck Semiconductor ETF in the 3rd quarter worth approximately $829,000. Creative Planning increased its position in VanEck Semiconductor ETF by 2.6% in the third quarter. Creative Planning now owns 38,229 shares of the company’s stock worth $9,383,000 after purchasing an additional 963 shares during the last quarter. VitalStone Financial LLC raised its stake in VanEck Semiconductor ETF by 1,143.6% during the third quarter. VitalStone Financial LLC now owns 684 shares of the company’s stock valued at $168,000 after purchasing an additional 629 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in VanEck Semiconductor ETF by 42.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,091 shares of the company’s stock valued at $268,000 after purchasing an additional 324 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new position in VanEck Semiconductor ETF during the third quarter valued at $226,000.

VanEck Semiconductor ETF Stock Performance

SMH stock opened at $256.69 on Friday. The company’s fifty day moving average price is $238.12 and its 200-day moving average price is $239.75. VanEck Semiconductor ETF has a one year low of $136.10 and a one year high of $283.07. The company has a market capitalization of $25.24 billion, a PE ratio of 18.82 and a beta of 1.35.

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.