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

VanEck Biotech ETF (NASDAQ:BBH) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 2,500 shares, a decline of 67.9% from the March 31st total of 7,800 shares. Based on an average trading volume of 7,200 shares, the short-interest ratio is presently 0.3 days.

VanEck Biotech ETF Stock Performance

Shares of NASDAQ:BBH traded up $0.82 during trading hours on Friday, hitting $155.59. 6,398 shares of the company’s stock traded hands, compared to its average volume of 10,021. The company’s fifty day simple moving average is $162.21 and its two-hundred day simple moving average is $159.75. VanEck Biotech ETF has a 52 week low of $142.51 and a 52 week high of $171.04.

Institutional Trading of VanEck Biotech ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC lifted its holdings in shares of VanEck Biotech ETF by 16.1% during the third quarter. Kestra Advisory Services LLC now owns 3,061 shares of the company’s stock valued at $477,000 after purchasing an additional 424 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in VanEck Biotech ETF during the fourth quarter valued at about $26,000. Raymond James Financial Services Advisors Inc. lifted its stake in VanEck Biotech ETF by 34.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,129 shares of the company’s stock valued at $3,162,000 after buying an additional 4,909 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of VanEck Biotech ETF by 32.8% in the third quarter. Wealthfront Advisers LLC now owns 5,229 shares of the company’s stock worth $814,000 after buying an additional 1,292 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of VanEck Biotech ETF by 4.7% in the third quarter. Private Advisor Group LLC now owns 1,675 shares of the company’s stock worth $261,000 after acquiring an additional 75 shares in the last quarter. 32.05% of the stock is owned by institutional investors and hedge funds.

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.