VanEck Digital Transformation ETF (NASDAQ:DAPP) Sees Large Decline in Short Interest

VanEck Digital Transformation ETF (NASDAQ:DAPP) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 84,523 shares, a decline of 84.6% from the August 15th total of 547,102 shares. Based on an average daily volume of 916,870 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DAPP. Abound Financial LLC bought a new position in VanEck Digital Transformation ETF in the fourth quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in VanEck Digital Transformation ETF during the 1st quarter valued at approximately $29,000. Kestra Advisory Services LLC bought a new position in VanEck Digital Transformation ETF during the 4th quarter worth $31,000. Group One Trading LLC grew its stake in VanEck Digital Transformation ETF by 77.6% during the 2nd quarter. Group One Trading LLC now owns 3,223 shares of the company’s stock worth $53,000 after buying an additional 1,408 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in VanEck Digital Transformation ETF by 91.3% in the second quarter. Qube Research & Technologies Ltd now owns 9,019 shares of the company’s stock worth $149,000 after buying an additional 4,304 shares during the period.

VanEck Digital Transformation ETF Stock Performance

Shares of DAPP stock traded up $0.41 during mid-day trading on Friday, reaching $19.92. 948,895 shares of the company were exchanged, compared to its average volume of 779,913. The business’s 50 day simple moving average is $18.63 and its 200 day simple moving average is $18.77. The company has a market capitalization of $258.56 million, a P/E ratio of 2.89 and a beta of 3.45. VanEck Digital Transformation ETF has a fifty-two week low of $13.68 and a fifty-two week high of $27.49.

VanEck Digital Transformation ETF Company Profile

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.