VanEck BDC Income ETF (NYSEARCA:BIZD) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

VanEck BDC Income ETF (NYSEARCA:BIZD) shares crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $12.55 and traded as low as $12.43. VanEck BDC Income ETF shares last traded at $12.44, with a volume of 1,263,043 shares trading hands.

VanEck BDC Income ETF Stock Down 1.7%

The firm has a fifty day moving average price of $12.55 and a 200 day moving average price of $12.79. The company has a market cap of $1.48 billion, a P/E ratio of 12.16 and a beta of 0.67.

Institutional Investors Weigh In On VanEck BDC Income ETF

A number of hedge funds have recently added to or reduced their stakes in BIZD. Bank of America Corp DE increased its position in VanEck BDC Income ETF by 30.8% in the 1st quarter. Bank of America Corp DE now owns 7,624,033 shares of the company’s stock valued at $97,588,000 after acquiring an additional 1,794,136 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in VanEck BDC Income ETF during the 3rd quarter worth $53,185,000. Cambridge Associates LLC MA ADV boosted its holdings in VanEck BDC Income ETF by 38.7% in the first quarter. Cambridge Associates LLC MA ADV now owns 2,424,628 shares of the company’s stock valued at $31,035,000 after acquiring an additional 676,672 shares during the last quarter. Apollon Wealth Management LLC increased its position in VanEck BDC Income ETF by 12.2% in the third quarter. Apollon Wealth Management LLC now owns 1,599,804 shares of the company’s stock worth $20,621,000 after purchasing an additional 174,060 shares during the period. Finally, Independent Financial Group LLC acquired a new stake in VanEck BDC Income ETF in the first quarter worth about $13,576,000.

About VanEck BDC Income ETF

The VanEck BDC Income ETF (BIZD) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a market cap-weighted index of US BDC companies whose principal business is to invest in, lend capital to, or provide services to privately held companies. BIZD was launched on Feb 12, 2013 and is managed by VanEck.