VanEck Biotech ETF (NASDAQ:BBH) Sees Significant Decrease in Short Interest

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 900 shares, a decline of 84.2% from the August 15th total of 5,700 shares. Based on an average daily volume of 6,200 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of VanEck Biotech ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Focus Financial Network Inc. ADV purchased a new position in VanEck Biotech ETF in the 4th quarter worth approximately $2,328,000. Corient Private Wealth LLC bought a new position in shares of VanEck Biotech ETF in the 4th quarter worth about $1,065,000. Atlas Capital Advisors LLC bought a new position in shares of VanEck Biotech ETF in the 2nd quarter worth about $960,000. Condor Capital Management bought a new position in shares of VanEck Biotech ETF in the 4th quarter worth about $800,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in VanEck Biotech ETF during the 4th quarter valued at about $572,000. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Stock Performance

BBH stock traded up $1.73 during mid-day trading on Friday, hitting $181.20. The company had a trading volume of 4,307 shares, compared to its average volume of 7,294. VanEck Biotech ETF has a 12 month low of $142.51 and a 12 month high of $183.64. The stock’s fifty day moving average price is $178.00 and its two-hundred day moving average price is $169.03.

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.