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

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,100 shares, a decrease of 73.3% from the February 28th total of 11,600 shares. Based on an average trading volume of 10,300 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On VanEck Biotech ETF

Institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new position in VanEck Biotech ETF during the fourth quarter valued at $271,000. Cetera Investment Advisers lifted its stake in VanEck Biotech ETF by 17.8% in the 4th quarter. Cetera Investment Advisers now owns 2,671 shares of the company’s stock valued at $419,000 after buying an additional 404 shares in the last quarter. Bank of America Corp DE lifted its stake in VanEck Biotech ETF by 86.2% in the 4th quarter. Bank of America Corp DE now owns 86,508 shares of the company’s stock valued at $13,579,000 after buying an additional 40,052 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in VanEck Biotech ETF by 88.5% in the 4th quarter. Ameriprise Financial Inc. now owns 7,949 shares of the company’s stock worth $1,248,000 after buying an additional 3,733 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in VanEck Biotech ETF during the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 32.05% of the company’s stock.

VanEck Biotech ETF Price Performance

BBH stock traded down $1.34 during mid-day trading on Friday, reaching $158.43. 3,163 shares of the company’s stock were exchanged, compared to its average volume of 7,489. VanEck Biotech ETF has a 12-month low of $151.35 and a 12-month high of $183.64. The stock’s 50 day moving average is $163.02 and its 200 day moving average is $166.61. The company has a market cap of $386.57 million, a price-to-earnings ratio of 33.67 and a beta of 0.85.

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.