VanEck Biotech ETF (NASDAQ:BBH) Hits New 1-Year High – Here’s What Happened

Shares of VanEck Biotech ETF (NASDAQ:BBH) reached a new 52-week high during trading on Wednesday. The stock traded as high as $254.75 and last traded at $252.9560, with a volume of 14,100 shares changing hands. The stock had previously closed at $249.80.

VanEck Biotech ETF Stock Performance

The stock’s 50 day moving average is $239.77 and its two-hundred day moving average is $205.82.

Institutional Investors Weigh In On VanEck Biotech ETF

A number of institutional investors and hedge funds have recently made changes to their positions in BBH. Nwam LLC acquired a new stake in shares of VanEck Biotech ETF during the second quarter worth about $18,614,000. Bank of America Corp DE raised its stake in 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 valued at $12,473,000 after acquiring an additional 20,375 shares during the last quarter. Ascent Advisors LLC purchased a new stake in VanEck Biotech ETF during the 1st quarter valued at approximately $11,178,000. Quantitative Investment Management LLC purchased a new stake in VanEck Biotech ETF during the 2nd quarter valued at approximately $7,589,000. Finally, Proficio Capital Partners LLC acquired a new stake in VanEck Biotech ETF during the 2nd quarter worth approximately $5,183,000. 32.05% of the stock is owned by hedge funds and other institutional investors.

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.