VanEck Biotech ETF (NASDAQ:BBH) Sees Strong Trading Volume – Time to Buy?

Shares of VanEck Biotech ETF (NASDAQ:BBH) saw unusually-high trading volume on Thursday. Approximately 9,163 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 8,052 shares. The stock last traded at $256.0260 and had previously closed at $257.79.

VanEck Biotech ETF Price Performance

The stock has a 50-day moving average of $243.61 and a 200-day moving average of $209.27.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Nwam LLC acquired a new position in VanEck Biotech ETF during the second quarter worth approximately $18,614,000. Quantitative Investment Management LLC bought a new position in shares of VanEck Biotech ETF during the 2nd quarter worth approximately $7,589,000. Proficio Capital Partners LLC bought a new position in shares of VanEck Biotech ETF during the 2nd quarter worth approximately $5,183,000. Bank of America Corp DE increased its holdings in shares of VanEck Biotech ETF by 44.3% during the 1st quarter. Bank of America Corp DE now owns 66,338 shares of the company’s stock worth $12,473,000 after acquiring an additional 20,375 shares during the last quarter. Finally, LGL Partners LLC acquired a new position in shares of VanEck Biotech ETF during the 2nd quarter worth approximately $2,298,000. 32.05% of the stock is currently 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.