VanEck Biotech ETF (NASDAQ:BBH) Sees Significant Increase in Short Interest

VanEck Biotech ETF (NASDAQ:BBH) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 11,600 shares, an increase of 427.3% from the February 13th total of 2,200 shares. Based on an average daily volume of 10,500 shares, the short-interest ratio is presently 1.1 days. Currently, 0.5% of the shares of the company are sold short.

VanEck Biotech ETF Price Performance

NASDAQ:BBH traded up $0.53 during trading hours on Wednesday, hitting $162.31. The stock had a trading volume of 2,481 shares, compared to its average volume of 7,521. The company has a 50 day simple moving average of $162.42 and a two-hundred day simple moving average of $168.09. VanEck Biotech ETF has a one year low of $151.35 and a one year high of $183.64. The firm has a market capitalization of $396.04 million, a price-to-earnings ratio of 30.97 and a beta of 0.85.

VanEck Biotech ETF Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 24th. Stockholders of record on Monday, December 23rd were issued a dividend of $1.2517 per share. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On VanEck Biotech ETF

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake in VanEck Biotech ETF during the fourth quarter worth about $32,000. Truvestments Capital LLC bought a new stake in VanEck Biotech ETF during the third quarter worth about $44,000. FSA Wealth Management LLC bought a new stake in VanEck Biotech ETF during the third quarter worth about $54,000. Coastline Trust Co bought a new stake in VanEck Biotech ETF during the third quarter worth about $59,000. Finally, SBI Securities Co. Ltd. bought a new stake in VanEck Biotech ETF during the fourth quarter worth about $81,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.

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.