VanEck Biotech ETF (NASDAQ:BBH) Hits New 12-Month High – What’s Next?

VanEck Biotech ETF (NASDAQ:BBH)’s stock price hit a new 52-week high on Wednesday. The company traded as high as $248.78 and last traded at $248.78, with a volume of 13,301 shares. The stock had previously closed at $241.14.

VanEck Biotech ETF Stock Performance

The stock’s 50-day moving average price is $238.52 and its two-hundred day moving average price is $210.50.

Hedge Funds Weigh In On VanEck Biotech ETF

Several institutional investors have recently bought and sold shares of the company. Nwam LLC purchased a new stake in VanEck Biotech ETF in the second quarter worth $18,614,000. Bank of America Corp DE lifted its position in shares of 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 buying an additional 20,375 shares during the last quarter. Ascent Advisors LLC bought a new position in shares of VanEck Biotech ETF during the 1st quarter worth $11,178,000. Quantitative Investment Management LLC bought a new position in shares of VanEck Biotech ETF during the 2nd quarter worth $7,589,000. Finally, Proficio Capital Partners LLC bought a new position in shares of VanEck Biotech ETF during the 2nd quarter worth $5,183,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.

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.