Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Drops By 73.3%

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBH. Truvestments Capital LLC acquired a new stake in VanEck Biotech ETF in the 3rd quarter valued at $44,000. FSA Wealth Management LLC acquired a new stake in shares of VanEck Biotech ETF in the third quarter valued at about $54,000. Kovitz Investment Group Partners LLC raised its holdings in shares of VanEck Biotech ETF by 4.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 3,186 shares of the company’s stock valued at $565,000 after buying an additional 141 shares during the period. Jane Street Group LLC raised its holdings in shares of VanEck Biotech ETF by 401.7% during the 3rd quarter. Jane Street Group LLC now owns 8,348 shares of the company’s stock valued at $1,481,000 after buying an additional 6,684 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in VanEck Biotech ETF during the 3rd quarter worth approximately $166,000. 32.05% of the stock is owned by institutional investors and hedge funds.

VanEck Biotech ETF Price Performance

NASDAQ BBH opened at $158.92 on Thursday. VanEck Biotech ETF has a 1-year low of $151.35 and a 1-year high of $183.64. The firm has a market capitalization of $387.76 million, a P/E ratio of 33.67 and a beta of 0.85. The business’s 50-day simple moving average is $162.99 and its 200-day simple moving average is $166.79.

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.