Is it possible to determine how much volume on individual names in the SMH are executed based on ETF arbitrage?
Oh...opps. I thought you were asking for the composition of SMH. Sorry. I have no way to really know, but I would say that a majority of them recently probably are. The SMH volume is near the highs of last year while the sum of the volume of its 20 members is not near the highs. This is not exactly proof, I know.