VanEck Biotech ETF (NASDAQ:BBH) Short Interest Down 34.5% in May

VanEck Biotech ETF (NASDAQ:BBH) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,900 shares, a drop of 34.5% from the May 15th total of 2,900 shares. Based on an average daily volume of 7,000 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On VanEck Biotech ETF

Institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC bought a new position in shares of VanEck Biotech ETF during the 4th quarter valued at about $26,000. Kestra Advisory Services LLC lifted its stake in VanEck Biotech ETF by 16.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,061 shares of the company’s stock valued at $477,000 after acquiring an additional 424 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in VanEck Biotech ETF by 34.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,129 shares of the company’s stock valued at $3,162,000 after acquiring an additional 4,909 shares in the last quarter. Condor Capital Management acquired a new position in shares of VanEck Biotech ETF during the 4th quarter worth approximately $800,000. Finally, Principal Securities Inc. acquired a new position in shares of VanEck Biotech ETF during the 4th quarter worth approximately $66,000. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Price Performance

Shares of VanEck Biotech ETF stock traded down $0.62 during trading on Friday, hitting $166.85. 4,077 shares of the company were exchanged, compared to its average volume of 4,833. VanEck Biotech ETF has a 1-year low of $142.51 and a 1-year high of $171.04. The firm’s fifty day moving average price is $162.86 and its 200 day moving average price is $163.39.

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.