Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Declines By 73.3%

VanEck Biotech ETF (NASDAQ:BBH) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,100 shares, a drop of 73.3% from the February 28th total of 11,600 shares. Based on an average daily volume of 10,300 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

VanEck Biotech ETF Stock Up 0.5 %

BBH stock opened at $159.66 on Friday. VanEck Biotech ETF has a 52-week low of $151.35 and a 52-week high of $183.64. The firm has a market cap of $389.56 million, a P/E ratio of 33.67 and a beta of 0.85. The company’s 50-day simple moving average is $163.02 and its 200-day simple moving average is $166.74.

Institutional Trading of VanEck Biotech ETF

Several institutional investors have recently bought and sold shares of BBH. Farther Finance Advisors LLC acquired a new position in shares of VanEck Biotech ETF during the 4th quarter worth approximately $32,000. Truvestments Capital LLC acquired a new position in VanEck Biotech ETF during the third quarter worth $44,000. FSA Wealth Management LLC purchased a new position in VanEck Biotech ETF during the third quarter valued at $54,000. SBI Securities Co. Ltd. acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter valued at about $81,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of VanEck Biotech ETF during the third quarter worth about $166,000. 32.05% of the stock is owned by institutional investors and hedge funds.

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.