VanEck Semiconductor ETF, with SMH ticker, to split 2-for-1 in May

VanEck said Friday that it will implement a 2-for-1 split of its VanEck Semiconductor exchange-traded fund
SMH,
+0.52%.
The ETF is expected begin trading on a split-adjusted basis on May 4, meaning it will start trading that day at half the price implied by the May 3 close. VanEck said there will be “no impact” on the overall value of the ETF. “VanEck periodically assesses its ETF lineup to determine when and where share splits would most benefit investors,” VanEck said in a statement. “A number of factors are considered, including ETF market price, bid-ask spread and trading volume,” The ETF, which slipped 0.4% in premarket trading has soared 24.4% year to date, while the PHLX Semiconductor Index
SOX,
+0.50%
has climbed 21.4% and the S&P 500
SPX,
+0.20%
has gained 8.0%. The ETF has slipped 4.1% month-to-date, since it closed at an 11-month high of $263.19.