VanEck Biotech ETF (NASDAQ:BBH) Short Interest Up 148.0% in July

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 10,079 shares, an increase of 148.0% from the June 30th total of 4,064 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 4,959 shares, the days-to-cover ratio is presently 2.0 days.

Insiders Place Their Bets

In other VanEck Biotech ETF news, major shareholder Sardar Biglari sold 6,533 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $16.71, for a total transaction of $109,166.43. Following the completion of the transaction, the insider owned 3,552,710 shares in the company, valued at $59,365,784.10. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 10,493 shares of company stock worth $175,335 in the last three months.

Hedge Funds Weigh In On VanEck Biotech ETF

Several hedge funds have recently made changes to their positions in BBH. Northwestern Mutual Wealth Management Co. raised its stake in shares of VanEck Biotech ETF by 40,463.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 494,061 shares of the company’s stock valued at $93,506,000 after purchasing an additional 492,843 shares during the period. Ascent Advisors LLC bought a new position in VanEck Biotech ETF in the 1st quarter worth about $11,178,000. Raymond James Financial Inc. grew its holdings in VanEck Biotech ETF by 245.9% during the 2nd quarter. Raymond James Financial Inc. now owns 67,940 shares of the company’s stock valued at $10,414,000 after buying an additional 48,297 shares in the last quarter. Bank of America Corp DE increased its position in shares of VanEck Biotech ETF by 44.3% during the first quarter. Bank of America Corp DE now owns 66,338 shares of the company’s stock valued at $12,473,000 after buying an additional 20,375 shares during the period. Finally, LPL Financial LLC increased its position in shares of VanEck Biotech ETF by 63.5% during the fourth quarter. LPL Financial LLC now owns 31,813 shares of the company’s stock valued at $6,021,000 after buying an additional 12,351 shares during the period. 32.05% of the stock is currently owned by hedge funds and other institutional investors.

VanEck Biotech ETF Stock Performance

Shares of BBH stock opened at $208.64 on Thursday. The firm’s 50 day moving average is $196.39 and its 200 day moving average is $192.67. VanEck Biotech ETF has a 12 month low of $156.45 and a 12 month high of $212.54.

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.