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

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 3,100 shares, a decrease of 73.3% from the February 28th total of 11,600 shares. Based on an average daily trading volume, of 10,300 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

VanEck Biotech ETF Stock Performance

Shares of NASDAQ:BBH traded down $1.34 during midday trading on Friday, hitting $158.43. The company’s stock had a trading volume of 3,163 shares, compared to its average volume of 7,489. VanEck Biotech ETF has a 12-month low of $151.35 and a 12-month high of $183.64. The company has a market cap of $386.57 million, a P/E ratio of 33.67 and a beta of 0.85. The business’s 50 day simple moving average is $163.02 and its 200 day simple moving average is $166.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings in shares of VanEck Biotech ETF by 401.7% in the third quarter. Jane Street Group LLC now owns 8,348 shares of the company’s stock valued at $1,481,000 after purchasing an additional 6,684 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of VanEck Biotech ETF in the 4th quarter worth $250,000. Farther Finance Advisors LLC purchased a new position in shares of VanEck Biotech ETF during the 4th quarter worth $32,000. HighTower Advisors LLC boosted its position in shares of VanEck Biotech ETF by 12.0% during the 4th quarter. HighTower Advisors LLC now owns 9,903 shares of the company’s stock valued at $1,554,000 after acquiring an additional 1,058 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at about $81,000. 32.05% of the stock is currently owned by institutional investors and hedge funds.

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.