VanEck Biotech ETF (NASDAQ:BBH) Sees Large Growth in Short Interest

VanEck Biotech ETF (NASDAQ:BBH) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 32,083 shares, a growth of 51.1% from the July 30th total of 21,232 shares. Based on an average daily trading volume, of 5,541 shares, the short-interest ratio is presently 5.8 days. Approximately 1.6% of the shares of the company are sold short.

VanEck Biotech ETF Price Performance

BBH opened at $239.49 on Wednesday. The firm has a 50 day moving average price of $214.84 and a 200-day moving average price of $197.69. VanEck Biotech ETF has a twelve month low of $160.91 and a twelve month high of $244.35.

Insider Activity at VanEck Biotech ETF

In related news, major shareholder Sardar Biglari sold 2,749 shares of VanEck Biotech ETF stock in a transaction dated Thursday, July 16th. The stock was sold at an average price of $16.70, for a total value of $45,908.30. Following the completion of the sale, the insider directly owned 3,549,961 shares in the company, valued at approximately $59,284,348.70. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 10,493 shares of company stock worth $175,335 over the last 90 days.

Hedge Funds Weigh In On VanEck Biotech ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC purchased a new position in VanEck Biotech ETF during the fourth quarter valued at $38,000. Allworth Financial LP grew its stake in shares of VanEck Biotech ETF by 255.0% during the 4th quarter. Allworth Financial LP now owns 426 shares of the company’s stock valued at $81,000 after acquiring an additional 306 shares during the period. First PREMIER Bank purchased a new stake in VanEck Biotech ETF in the 2nd quarter worth approximately $91,000. JNBA Financial Advisors bought a new stake in VanEck Biotech ETF during the 2nd quarter worth approximately $122,000. Finally, Fifth Third Bancorp purchased a new position in VanEck Biotech ETF during the first quarter valued at approximately $127,000. 32.05% of the stock is owned by institutional investors.

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.