In the third quarter, Geneos Wealth Management Inc. slashed its VanEck Semiconductor ETF holdings by 55.4%, offloading 3,460 shares and reducing its position to 2,786 shares valued at $909,000 as of quarter-end. This move marks one of the largest single-fund reductions among institutional investors in SMH during the period, signaling a notable shift in sentiment from one sector specialist.

While Geneos pared back exposure, several other managers bolstered positions. Allspring Global Investments boosted its stake by 13.0% to 3,469 shares (approximately $967,000) in the second quarter. Farther Finance Advisors more than doubled its exposure, acquiring 6,026 additional shares to reach 10,450 shares (about $3.4 million). AE Wealth Management recorded the largest increase, adding 31,089 shares for a total of 49,509 shares (roughly $13.8 million). Two new entrants—Advyzon Investment Management and Carter Financial Group—installed stakes worth $2.7 million and $1.1 million, respectively.

SMH declared an annual dividend of $1.1047 per share, distributed to shareholders of record on December 22 with a payment date of December 26. This payout translates into a yield of 31.0%, making the ETF one of the highest-yielding vehicles in the semiconductor space and attractive for income-focused investors seeking exposure to chip-maker equities.

Launched on May 5, 2000, and managed by VanEck, SMH tracks the MVIS US Listed Semiconductor 25 index, a market-cap-weighted benchmark of the 25 largest U.S. semiconductor companies. The ETF commands a market capitalization of $41.36 billion and carries a PE ratio of 34.83 and a beta of 1.52, reflecting both sizeable scale and sector-level volatility. Its long tenure and concentrated exposure make SMH a cornerstone for investors targeting the semiconductor cycle.