Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Rises By 521.1%

VanEck Biotech ETF (NASDAQ:BBH) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 11,800 shares, an increase of 521.1% from the May 31st total of 1,900 shares. Based on an average trading volume of 7,700 shares, the short-interest ratio is presently 1.5 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Focus Financial Network Inc. ADV acquired a new stake in shares of VanEck Biotech ETF in the fourth quarter worth $2,328,000. Corient Private Wealth LLC purchased a new position in VanEck Biotech ETF during the 4th quarter valued at about $1,065,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of VanEck Biotech ETF by 34.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,129 shares of the company’s stock valued at $3,162,000 after purchasing an additional 4,909 shares during the period. Condor Capital Management purchased a new stake in shares of VanEck Biotech ETF in the fourth quarter worth approximately $800,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of VanEck Biotech ETF during the fourth quarter worth approximately $572,000. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Stock Down 0.9 %

Shares of BBH stock opened at $168.41 on Friday. The stock has a 50-day simple moving average of $165.17 and a 200 day simple moving average of $164.44. VanEck Biotech ETF has a fifty-two week low of $142.51 and a fifty-two week high of $173.49.

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.