Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Declines By 33.8%

VanEck Biotech ETF (NASDAQ:BBH) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 21,252 shares, a decline of 33.8% from the August 15th total of 32,083 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 10,054 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling

In other VanEck Biotech ETF news, major shareholder Sardar Biglari sold 6,533 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 3,552,710 shares in the company, valued at approximately $59,365,784.10. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 10,493 shares of company stock valued at $175,335.

Hedge Funds Weigh In On VanEck Biotech ETF

Several hedge funds and other institutional investors have recently modified their holdings of BBH. Ascent Advisors LLC purchased a new position in shares of VanEck Biotech ETF during the first quarter valued at approximately $11,178,000. Nwam LLC purchased a new stake in shares of VanEck Biotech ETF in the 2nd quarter worth about $18,614,000. Proficio Capital Partners LLC purchased a new position in shares of VanEck Biotech ETF during the second quarter valued at about $5,183,000. Segall Bryant & Hamill LLC purchased a new position in shares of VanEck Biotech ETF during the first quarter valued at about $881,000. Finally, LGL Partners LLC bought a new position in VanEck Biotech ETF in the second quarter worth about $2,298,000. 32.05% of the stock is owned by institutional investors.

VanEck Biotech ETF Stock Up 0.2%

Shares of NASDAQ BBH opened at $231.17 on Thursday. The firm’s fifty day moving average is $221.38 and its 200 day moving average is $200.72. VanEck Biotech ETF has a 52 week low of $160.91 and a 52 week high of $244.35.

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.