Semiconductor ETF (SMH): Out of consolidation to the downside
Market Vectors Semiconductor ETF ($SMH) has been consolidating in a 10% for most of this year. That consolidation appears to have run it’s course as Market Vectors® Semiconductor ETF is rolling over, currently down -3.25% at $55.78 on volume of 7,576,120 shares (2.58 times the typical daily volume).
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Market Vectors® Semiconductor ETF is below the 50 day moving average and above the 200 day moving average. These are bearish, bearish indicators respectively.
Market Vectors® Semiconductor ETF The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors® US Listed Semiconductor 25 Index (the “Semiconductor Index”).
The fund normally invests at least 80% of its total assets in securities that comprise the fund’s benchmark index. The Semiconductor Index is comprised of common stocks and depositary receipts of U.S. exchange-listed companies in the semiconductor sector. Such companies may include medium-capitalization companies and foreign companies that are listed on a U.S. exchange. The fund is non-diversified.