Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Expands By 521.1%

VanEck Biotech ETF (NASDAQ:BBH) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 11,800 shares, a growth of 521.1% from the May 31st total of 1,900 shares. Based on an average daily trading volume, of 7,700 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On VanEck Biotech ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at about $26,000. Tidemark LLC acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at about $34,000. Principal Securities Inc. acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at about $66,000. Howard Wealth Management LLC acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at about $201,000. Finally, Assetmark Inc. raised its position in shares of VanEck Biotech ETF by 105.0% in the fourth quarter. Assetmark Inc. now owns 1,779 shares of the company’s stock valued at $294,000 after buying an additional 911 shares during the last quarter. 32.05% of the stock is owned by hedge funds and other institutional investors.

VanEck Biotech ETF Stock Performance

NASDAQ BBH traded down $1.55 during mid-day trading on Friday, reaching $168.46. 6,035 shares of the stock were exchanged, compared to its average volume of 7,986. The business’s 50 day moving average is $164.85 and its 200-day moving average is $164.35. VanEck Biotech ETF has a 1 year low of $142.51 and a 1 year high of $173.49.

About VanEck Biotech ETF

The BIOTECH HOLDING COMPANY DEPOSITARY RECEIPTS or HOLDRS TRUST was formed under the depositary trust agreement, among The Bank of New York, as trustee, Merrill Lynch, Pierce, Fenner & Smith Incorporated, other depositors and the owners of the Biotech HOLDRS. The trust currently holds shares of common stock or American depositary shares issued by a group of companies that were, at the time of the initial offering, generally considered to be involved in various segments of thebiotechnology industry.