Miller Investment Management LP Trims Stock Position in VanEck Biotech ETF $BBH

Miller Investment Management LP lessened its stake in VanEck Biotech ETF (NASDAQ:BBH) by 51.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,925 shares of the company’s stock after selling 41,833 shares during the period. VanEck Biotech ETF comprises 0.7% of Miller Investment Management LP’s investment portfolio, making the stock its 24th biggest position. Miller Investment Management LP’s holdings in VanEck Biotech ETF were worth $7,367,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BBH. Flagship Harbor Advisors LLC acquired a new stake in VanEck Biotech ETF during the fourth quarter worth about $47,000. Allworth Financial LP lifted its holdings in VanEck Biotech ETF by 255.0% in the fourth quarter. Allworth Financial LP now owns 426 shares of the company’s stock valued at $81,000 after acquiring an additional 306 shares during the period. Huntington National Bank acquired a new position in VanEck Biotech ETF in the fourth quarter valued at approximately $132,000. Focus Financial Network Inc. purchased a new stake in VanEck Biotech ETF in the 4th quarter worth approximately $206,000. Finally, Cibc World Market Inc. acquired a new stake in shares of VanEck Biotech ETF during the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Stock Down 2.4%

NASDAQ:BBH opened at $183.08 on Thursday. The company has a 50 day moving average price of $186.95 and a 200-day moving average price of $190.68. VanEck Biotech ETF has a 1-year low of $150.18 and a 1-year high of $202.91.

VanEck Biotech ETF 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.