VanEck Biotech ETF (NASDAQ:BBH) Sets New 1-Year High – Still a Buy?

VanEck Biotech ETF (NASDAQ:BBH) reached a new 52-week high during trading on Friday. The company traded as high as $245.36 and last traded at $242.9550, with a volume of 4588 shares changing hands. The stock had previously closed at $240.21.

VanEck Biotech ETF Stock Performance

The company’s 50 day simple moving average is $225.41 and its two-hundred day simple moving average is $202.65.

Insider Activity at VanEck Biotech ETF

In related news, major shareholder Sardar Biglari sold 6,533 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $16.71, for a total transaction of $109,166.43. Following the completion of the transaction, the insider owned 3,552,710 shares of the company’s stock, valued at approximately $59,365,784.10. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 10,493 shares of company stock valued at $175,335.

Institutional Trading of VanEck Biotech ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Nwam LLC purchased a new stake in VanEck Biotech ETF during the 2nd quarter worth approximately $18,614,000. Quantitative Investment Management LLC acquired a new stake in VanEck Biotech ETF during the 2nd quarter worth approximately $7,589,000. Ascent Advisors LLC purchased a new position in VanEck Biotech ETF in the 1st quarter valued at approximately $11,178,000. Proficio Capital Partners LLC purchased a new position in VanEck Biotech ETF in the 2nd quarter valued at approximately $5,183,000. Finally, Bank of America Corp DE grew its stake in shares of 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 worth $12,473,000 after acquiring an additional 20,375 shares in the last quarter. Institutional investors and hedge funds 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.