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

VanEck Biotech ETF (NASDAQ:BBH) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 11,600 shares, a growth of 427.3% from the February 13th total of 2,200 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 10,500 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of VanEck Biotech ETF by 86.2% during the 4th quarter. Bank of America Corp DE now owns 86,508 shares of the company’s stock worth $13,579,000 after purchasing an additional 40,052 shares during the period. Wells Fargo & Company MN boosted its holdings in VanEck Biotech ETF by 5.7% in the 4th quarter. Wells Fargo & Company MN now owns 75,826 shares of the company’s stock worth $11,902,000 after acquiring an additional 4,064 shares during the period. TD Waterhouse Canada Inc. purchased a new position in shares of VanEck Biotech ETF during the 4th quarter valued at approximately $9,966,000. Strategic Financial Concepts LLC purchased a new position in shares of VanEck Biotech ETF during the 4th quarter valued at approximately $3,828,000. Finally, Raymond James Financial Inc. purchased a new position in shares of VanEck Biotech ETF during the 4th quarter valued at approximately $3,381,000. Institutional investors and hedge funds own 32.05% of the company’s stock.

VanEck Biotech ETF Stock Performance

BBH stock traded up $0.53 during trading on Wednesday, hitting $162.31. The stock had a trading volume of 2,481 shares, compared to its average volume of 7,521. The company’s 50 day moving average price is $162.42 and its two-hundred day moving average price is $168.09. VanEck Biotech ETF has a 1-year low of $151.35 and a 1-year high of $183.64. The stock has a market cap of $396.04 million, a price-to-earnings ratio of 30.97 and a beta of 0.85.

VanEck Biotech ETF Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 24th. Stockholders of record on Monday, December 23rd were paid a dividend of $1.2517 per share. The ex-dividend date was Monday, December 23rd.

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.