This paper presents a new design of a Shear Motion Mode (SMM) actuator for ultra-high precision positioning in nanotechnological applications. In the SMM Actuator, a V-shape stage is driven by four parallel polarized piezoelectric plates with shear displacement. Based on its simple mechanism, the SMM actuator can be built very compactly. For fast and precision positioning tasks, we develop three different driving modes to control the SMM actuator. For large stroke, the inertial and frictional driving modes are applied for fast and precision positioning, respectively. The scanning mode enables the adjustment of the scanning distance in highest resolution. Positioning function of the developed SMM actuator may also be brought into applications in the low temperature and Ultra High Vacuum (UHV) environment. These three driving modes are experimentally tested to measure their dynamic performance. The stroke of the SMM actuator is 5mm. By applying the frictional driving mode, the SMM actuator can achieve a positioning resolution of 3nm with a pay load of 500g.