Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Rises By 110.7%

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 21,232 shares, an increase of 110.7% from the July 15th total of 10,079 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 5,392 shares, the short-interest ratio is currently 3.9 days.

Insider Activity at VanEck Biotech ETF

In related news, major shareholder Sardar Biglari sold 2,749 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 3,549,961 shares in the company, valued at approximately $59,284,348.70. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 10,493 shares of company stock valued at $175,335 over the last ninety days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Empowered Funds LLC purchased a new stake in VanEck Biotech ETF in the fourth quarter valued at approximately $38,000. Allworth Financial LP raised its stake in VanEck Biotech ETF by 255.0% during the fourth quarter. Allworth Financial LP now owns 426 shares of the company’s stock worth $81,000 after purchasing an additional 306 shares during the period. Fifth Third Bancorp purchased a new position in VanEck Biotech ETF during the first quarter worth approximately $127,000. Huntington National Bank acquired a new position in shares of VanEck Biotech ETF in the 4th quarter valued at $132,000. Finally, Evelyn Partners Asset Management Ltd boosted its holdings in shares of VanEck Biotech ETF by 16.9% in the 4th quarter. Evelyn Partners Asset Management Ltd now owns 941 shares of the company’s stock valued at $178,000 after purchasing an additional 136 shares during the last quarter. 32.05% of the stock is currently owned by hedge funds and other institutional investors.

VanEck Biotech ETF Stock Down 0.8%

NASDAQ:BBH traded down $1.72 during mid-day trading on Friday, reaching $217.92. The company’s stock had a trading volume of 3,436 shares, compared to its average volume of 5,691. The company’s fifty day simple moving average is $202.89 and its two-hundred day simple moving average is $194.35. VanEck Biotech ETF has a twelve month low of $160.91 and a twelve month high of $221.11.

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.