Short Interest in VanEck Biotech ETF (NASDAQ:BBH) Drops By 45.1%

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 4,064 shares, a decline of 45.1% from the June 15th total of 7,403 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 6,008 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC bought a new position in VanEck Biotech ETF in the 1st quarter valued at approximately $881,000. Paragon Private Wealth Management LLC increased its holdings in VanEck Biotech ETF by 5.3% in the 1st quarter. Paragon Private Wealth Management LLC now owns 15,368 shares of the company’s stock worth $2,890,000 after purchasing an additional 775 shares in the last quarter. Bank of America Corp DE raised its position in VanEck Biotech ETF by 44.3% in the first quarter. Bank of America Corp DE now owns 66,338 shares of the company’s stock valued at $12,473,000 after purchasing an additional 20,375 shares during the last quarter. Royal Bank of Canada raised its position in VanEck Biotech ETF by 4.3% in the first quarter. Royal Bank of Canada now owns 13,843 shares of the company’s stock valued at $2,603,000 after purchasing an additional 565 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in shares of VanEck Biotech ETF by 27.0% during the first quarter. Wealthfront Advisers LLC now owns 7,004 shares of the company’s stock valued at $1,317,000 after purchasing an additional 1,491 shares in the last quarter. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Trading Down 0.8%

Shares of VanEck Biotech ETF stock opened at $202.80 on Wednesday. VanEck Biotech ETF has a 12-month low of $154.75 and a 12-month high of $212.54. The firm’s 50-day moving average price is $191.96 and its two-hundred day moving average price is $191.69.

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.