Related: Big Tech ETF – QQQ – Could Surge in September

However, some investors are growing cautious on SMH. For the week ended Aug. 23rd, the ETF saw outflows of over $300 million, dwindling its third-quarter inflows to $135 million. Year-to-date, SMH has added $103 million in new assets.

Traders looking to make bearish bets on chip ETFs can consider the ProShares UltraShort Semiconductors (NYSEArca: SSG), which takes the -2x or -200% daily performance of the Dow Jones U.S. Semiconductors Index and the Direxion Daily Semiconductors Bear 3x Shares (NYSEArca: SOXS), which provides a -3x or -300% performance of the PHLX Semiconductor Select Index.

For more news and strategy on the Technology market, visit our Technology category.