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

VanEck Biotech ETF (NASDAQ:BBH) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 32,083 shares, a growth of 51.1% from the July 30th total of 21,232 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 5,541 shares, the short-interest ratio is presently 5.8 days.

VanEck Biotech ETF Price Performance

Shares of VanEck Biotech ETF stock traded up $1.95 on Tuesday, hitting $238.35. The company’s stock had a trading volume of 906 shares, compared to its average volume of 6,177. VanEck Biotech ETF has a 52-week low of $160.91 and a 52-week high of $244.35. The firm has a fifty day moving average price of $213.87 and a 200-day moving average price of $197.38.

Insiders Place Their Bets

In other news, major shareholder Sardar Biglari sold 2,749 shares of the firm’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 owned 3,549,961 shares in the company, valued at $59,284,348.70. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 10,493 shares of company stock valued at $175,335 over the last quarter.

Hedge Funds Weigh In On VanEck Biotech ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at approximately $38,000. Allworth Financial LP raised its position in shares of VanEck Biotech ETF by 255.0% during the 4th quarter. Allworth Financial LP now owns 426 shares of the company’s stock worth $81,000 after purchasing an additional 306 shares during the last quarter. First PREMIER Bank acquired a new position in shares of VanEck Biotech ETF during the 2nd quarter worth approximately $91,000. JNBA Financial Advisors acquired a new position in shares of VanEck Biotech ETF during the 2nd quarter worth approximately $122,000. Finally, Fifth Third Bancorp purchased a new stake in VanEck Biotech ETF in the 1st quarter valued at approximately $127,000. Institutional investors and hedge funds own 32.05% of the company’s stock.

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.