VanEck Biotech ETF (NASDAQ:BBH) Hits New 12-Month High – Time to Buy?

VanEck Biotech ETF (NASDAQ:BBH)’s stock price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $245.36 and last traded at $242.9550, with a volume of 4588 shares trading hands. The stock had previously closed at $240.21.

VanEck Biotech ETF Trading Down 0.1%

The company has a 50 day moving average of $225.41 and a 200 day moving average of $202.65.

Insider Activity

In other news, major shareholder Sardar Biglari sold 6,533 shares of VanEck Biotech ETF stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $16.71, for a total value of $109,166.43. Following the completion of the transaction, the insider owned 3,552,710 shares in the company, valued at approximately $59,365,784.10. This trade represents a 0.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 10,493 shares of company stock valued at $175,335.

Institutional Trading of VanEck Biotech ETF

A number of large investors have recently made changes to their positions in BBH. Nwam LLC acquired a new stake in VanEck Biotech ETF in the second quarter valued at approximately $18,614,000. Quantitative Investment Management LLC purchased a new position in VanEck Biotech ETF in the second quarter worth approximately $7,589,000. Ascent Advisors LLC acquired a new position in VanEck Biotech ETF during the 1st quarter worth approximately $11,178,000. Proficio Capital Partners LLC purchased a new stake in shares of VanEck Biotech ETF in the 2nd quarter valued at approximately $5,183,000. Finally, Bank of America Corp DE raised its holdings in shares of VanEck Biotech ETF by 44.3% in the 1st quarter. Bank of America Corp DE now owns 66,338 shares of the company’s stock valued at $12,473,000 after purchasing an additional 20,375 shares in the last quarter. 32.05% of the stock is currently owned by hedge funds and other institutional investors.

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.