Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Declines By 33.8%

VanEck Biotech ETF (NASDAQ:BBH) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 21,252 shares, a drop of 33.8% from the August 15th total of 32,083 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 10,054 shares, the days-to-cover ratio is presently 2.1 days.

Insider Activity at VanEck Biotech ETF

In related news, major shareholder Sardar Biglari sold 6,533 shares of VanEck Biotech ETF stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $16.71, for a total transaction of $109,166.43. Following the sale, the insider directly owned 3,552,710 shares in the company, valued at $59,365,784.10. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 10,493 shares of company stock valued at $175,335.

Hedge Funds Weigh In On VanEck Biotech ETF

A number of institutional investors and hedge funds have recently made changes to their positions in BBH. LGL Partners LLC bought a new stake in shares of VanEck Biotech ETF in the 2nd quarter worth approximately $2,298,000. First PREMIER Bank purchased a new stake in shares of VanEck Biotech ETF in the second quarter worth $91,000. Proficio Capital Partners LLC purchased a new position in shares of VanEck Biotech ETF in the 2nd quarter worth about $5,183,000. Nwam LLC purchased a new position in shares of VanEck Biotech ETF in the 2nd quarter worth about $18,614,000. Finally, JNBA Financial Advisors bought a new position in VanEck Biotech ETF in the 2nd quarter worth about $122,000. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Stock Performance

Shares of BBH stock opened at $231.17 on Thursday. The company’s fifty day moving average price is $221.38 and its 200-day moving average price is $200.72. VanEck Biotech ETF has a 12 month low of $160.91 and a 12 month high of $244.35.

VanEck Biotech ETF Company Profile

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.