VanEck Digital Transformation ETF (NASDAQ:DAPP) Sees Significant Growth in Short Interest
by Mitch Edgeman · The Markets DailyVanEck Digital Transformation ETF (NASDAQ:DAPP – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 247,542 shares, a growth of 40.0% from the February 26th total of 176,878 shares. Based on an average trading volume of 604,699 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.3% of the shares of the company are short sold.
VanEck Digital Transformation ETF Price Performance
VanEck Digital Transformation ETF stock traded down $0.89 during midday trading on Friday, reaching $14.62. 850,837 shares of the company traded hands, compared to its average volume of 673,760. VanEck Digital Transformation ETF has a 12 month low of $7.80 and a 12 month high of $27.49. The business has a 50 day moving average of $16.83 and a two-hundred day moving average of $19.28. The firm has a market capitalization of $271.93 million, a price-to-earnings ratio of 2.89 and a beta of 3.50.
Hedge Funds Weigh In On VanEck Digital Transformation ETF
Institutional investors and hedge funds have recently modified their holdings of the company. Private Advisor Group LLC grew its stake in shares of VanEck Digital Transformation ETF by 2,219.3% during the 3rd quarter. Private Advisor Group LLC now owns 540,445 shares of the company’s stock valued at $11,755,000 after purchasing an additional 517,143 shares during the period. Bank of America Corp DE lifted its stake in shares of VanEck Digital Transformation ETF by 285.8% in the 3rd quarter. Bank of America Corp DE now owns 402,699 shares of the company’s stock worth $8,759,000 after purchasing an additional 298,321 shares during the period. JP Wealth Management Inc. purchased a new position in shares of VanEck Digital Transformation ETF in the third quarter worth approximately $5,863,000. Jane Street Group LLC boosted its holdings in shares of VanEck Digital Transformation ETF by 179.1% in the first quarter. Jane Street Group LLC now owns 396,256 shares of the company’s stock worth $3,578,000 after buying an additional 254,265 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in VanEck Digital Transformation ETF by 3,446.1% during the second quarter. Geneos Wealth Management Inc. now owns 124,396 shares of the company’s stock valued at $2,059,000 after buying an additional 120,888 shares during the period.
About VanEck Digital Transformation ETF
The VanEck Digital Transformation ETF (DAPP) is an exchange-traded fund that is based on the MVIS Global Digital Assets Equity index, a market-cap-weighted index of global innovative companies that are involved in the digitalization of the worlds economy through a diverse range of digital assets. DAPP was launched on Apr 12, 2021 and is managed by VanEck.