VanEck Biotech ETF (NASDAQ:BBH) Sees Large Drop in Short Interest

VanEck Biotech ETF (NASDAQ:BBH) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 6,883 shares, a decline of 63.1% from the January 15th total of 18,670 shares. Based on an average daily volume of 7,434 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.3% of the shares of the stock are sold short. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 7,434 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On VanEck Biotech ETF

Several hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in VanEck Biotech ETF by 66.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 201 shares of the company’s stock worth $33,000 after buying an additional 80 shares during the last quarter. Caldwell Trust Co bought a new position in VanEck Biotech ETF during the second quarter valued at approximately $34,000. Flagship Harbor Advisors LLC purchased a new position in shares of VanEck Biotech ETF during the fourth quarter worth approximately $47,000. Allworth Financial LP lifted its holdings in shares of VanEck Biotech ETF by 255.0% in the 4th quarter. Allworth Financial LP now owns 426 shares of the company’s stock worth $81,000 after acquiring an additional 306 shares during the last quarter. Finally, Huntington National Bank bought a new stake in shares of VanEck Biotech ETF in the 4th quarter worth approximately $132,000. Institutional investors own 32.05% of the company’s stock.

VanEck Biotech ETF Price Performance

BBH stock opened at $195.86 on Wednesday. The firm has a 50 day simple moving average of $193.64 and a two-hundred day simple moving average of $180.51. VanEck Biotech ETF has a one year low of $135.34 and a one year high of $202.91.

VanEck Biotech ETF Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were paid a $0.9565 dividend. This represents a yield of 50.0%. The ex-dividend date of this dividend was Monday, December 22nd.

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.