In the third quarter, Geneos Wealth Management Inc. reduced its stake in the VanEck Semiconductor ETF by 55.4%, selling 3,460 shares and ending the period with 2,786 shares remaining. At quarter-end, the firm’s holdings were valued at approximately $909,000. This significant reduction marks one of the largest portfolio adjustments by a single manager in SMH during the period and may signal a shift in Geneos’s outlook on semiconductor sector volatility.

Several other asset managers adjusted their SMH exposure over the same timeframe. Allspring Global Investments increased its position by 13.0%, adding 400 shares to reach 3,469 shares. Farther Finance Advisors more than doubled its stake, adding 6,026 shares for a 136.2% gain to 10,450 shares. AE Wealth Management led net additions, boosting its holding by 168.8% with an additional 31,089 shares, bringing its total to 49,509 shares. New entrants included Advyzon Investment Management, which initiated a stake valued at $2.7 million, and Carter Financial Group with a $1.1 million opening position.

VanEck Semiconductor ETF declared its annual distribution, issuing $1.1047 per share to holders of record on December 22. The distribution corresponds to a yield of 31.0% based on the fund’s net asset value. SMH tracks the MVIS US Listed Semiconductor 25 Index and remains one of the largest sector-focused ETFs, with a market capitalization north of $40 billion and a price/earnings ratio near 35. Its beta of 1.52 underscores the fund’s sensitivity to broader equity market swings.