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

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

Insider Buying and Selling

In other VanEck Biotech ETF news, major shareholder Sardar Biglari sold 2,749 shares of the business’s stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $16.70, for a total transaction of $45,908.30. Following the sale, the insider directly owned 3,549,961 shares in the company, valued at approximately $59,284,348.70. The trade was a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 10,493 shares of company stock valued at $175,335 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. LGL Partners LLC purchased a new stake in shares of VanEck Biotech ETF during the 2nd quarter worth approximately $2,298,000. First PREMIER Bank purchased a new position in VanEck Biotech ETF in the 2nd quarter valued at approximately $91,000. Proficio Capital Partners LLC purchased a new position in VanEck Biotech ETF in the 2nd quarter valued at approximately $5,183,000. Nwam LLC acquired a new position in VanEck Biotech ETF during the second quarter worth $18,614,000. Finally, JNBA Financial Advisors acquired a new position in VanEck Biotech ETF during the second quarter worth $122,000. 32.05% of the stock is owned by hedge funds and other institutional investors.

VanEck Biotech ETF Stock Up 0.8%

Shares of NASDAQ BBH traded up $1.95 during midday trading on Tuesday, hitting $238.35. The company had a trading volume of 906 shares, compared to its average volume of 6,177. VanEck Biotech ETF has a twelve month low of $160.91 and a twelve month high of $244.35. The business has a 50-day simple moving average of $213.87 and a two-hundred day simple moving average of $197.38.

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.