With Tuesday's loss of about 4 percent at time of writing, the iShares Nasdaq Biotechnology ETF (NASDAQ: IBB), the largest biotech exchange traded fund by assets, is down 14.5 percent over the past month.
So it is no surprise that short sellers have piled into IBB and some of the ETF's marquee holdings. On June 30, short interest in IBB was 8.14 million shares, requiring 4.6 days to cover those shares, according to Nasdaq data. As of September 15, those numbers had climbed to 9.32 million IBB shares sold short requiring almost six days to cover.
The biotech sector's increased volatility has been a blessing (and a curse) for leveraged biotech ETFs, making at least two some of this year's most popular new ETFs.
Related Link: Going Shopping With Consumer Discretionary ETFs
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