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

VanEck Biotech ETF (NASDAQ:BBHGet Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 10,079 shares, an increase of 148.0% from the June 30th total of 4,064 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 4,959 shares, the short-interest ratio is presently 2.0 days.

VanEck Biotech ETF Stock Performance

Shares of VanEck Biotech ETF stock traded up $0.18 on Wednesday, hitting $210.28. 2,059 shares of the company traded hands, compared to its average volume of 5,850. The firm’s 50-day simple moving average is $195.88 and its 200 day simple moving average is $192.57. VanEck Biotech ETF has a 12-month low of $156.45 and a 12-month high of $212.54.

Insiders Place Their Bets

In other VanEck Biotech ETF news, major shareholder Sardar Biglari sold 2,749 shares of VanEck Biotech ETF stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of $16.70, for a total transaction of $45,908.30. Following the completion of the sale, the insider directly owned 3,549,961 shares in the company, valued at $59,284,348.70. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 10,493 shares of company stock valued at $175,335 over the last quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in VanEck Biotech ETF during the first quarter worth about $659,000. Raymond James Financial Inc. raised its holdings in shares of VanEck Biotech ETF by 245.9% during the 2nd quarter. Raymond James Financial Inc. now owns 67,940 shares of the company’s stock valued at $10,414,000 after buying an additional 48,297 shares in the last quarter. Bank of America Corp DE lifted its position in VanEck Biotech ETF by 17.7% in the 2nd quarter. Bank of America Corp DE now owns 52,466 shares of the company’s stock worth $8,042,000 after buying an additional 7,898 shares during the last quarter. Corient Private Wealth LLC boosted its stake in VanEck Biotech ETF by 63.5% in the second quarter. Corient Private Wealth LLC now owns 13,290 shares of the company’s stock worth $2,037,000 after buying an additional 5,160 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in VanEck Biotech ETF by 87.1% in the second quarter. Osaic Holdings Inc. now owns 1,465 shares of the company’s stock worth $225,000 after buying an additional 682 shares in the last quarter. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Company Profile

(Get Free Report)

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.

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