VanEck Biotech ETF (NASDAQ:BBH) Short Interest Down 45.1% in June

VanEck Biotech ETF (NASDAQ:BBH) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 4,064 shares, a drop of 45.1% from the June 15th total of 7,403 shares. Based on an average daily trading volume, of 6,008 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the company’s shares are sold short.

VanEck Biotech ETF Stock Performance

Shares of NASDAQ BBH opened at $202.80 on Wednesday. VanEck Biotech ETF has a 52-week low of $154.75 and a 52-week high of $212.54. The firm has a 50 day moving average price of $191.96 and a two-hundred day moving average price of $191.69.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of VanEck Biotech ETF by 40,463.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 494,061 shares of the company’s stock worth $93,506,000 after buying an additional 492,843 shares in the last quarter. Ascent Advisors LLC bought a new stake in shares of VanEck Biotech ETF in the 1st quarter valued at $11,178,000. Raymond James Financial Inc. lifted its position in shares of VanEck Biotech ETF by 245.9% during the 2nd quarter. Raymond James Financial Inc. now owns 67,940 shares of the company’s stock valued at $10,414,000 after acquiring an additional 48,297 shares during the period. Bank of America Corp DE boosted its stake in VanEck Biotech ETF by 44.3% during the first 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 in the last quarter. Finally, LPL Financial LLC boosted its stake in VanEck Biotech ETF by 63.5% during the fourth quarter. LPL Financial LLC now owns 31,813 shares of the company’s stock worth $6,021,000 after acquiring an additional 12,351 shares in the last quarter. 32.05% of the stock is owned by institutional investors.

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.