VanEck Digital Transformation ETF (NASDAQ:DAPP) Short Interest Down 16.3% in March

VanEck Digital Transformation ETF (NASDAQ:DAPP) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 290,100 shares, a decline of 16.3% from the March 15th total of 346,400 shares. Based on an average trading volume of 348,400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.0% of the company’s shares are sold short.

VanEck Digital Transformation ETF Stock Performance

Shares of DAPP traded up $0.04 during mid-day trading on Monday, hitting $9.02. 44,784 shares of the company’s stock were exchanged, compared to its average volume of 341,699. The company has a market cap of $130.12 million, a price-to-earnings ratio of 2.89 and a beta of 2.90. The stock’s 50-day moving average is $10.82 and its 200-day moving average is $14.02. VanEck Digital Transformation ETF has a fifty-two week low of $7.80 and a fifty-two week high of $20.71.

Hedge Funds Weigh In On VanEck Digital Transformation ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TCP Asset Management LLC raised its stake in shares of VanEck Digital Transformation ETF by 3.7% in the fourth quarter. TCP Asset Management LLC now owns 19,226 shares of the company’s stock valued at $276,000 after acquiring an additional 683 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of VanEck Digital Transformation ETF by 11.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 22,850 shares of the company’s stock worth $206,000 after buying an additional 2,367 shares in the last quarter. Gainplan LLC increased its stake in shares of VanEck Digital Transformation ETF by 2.9% during the first quarter. Gainplan LLC now owns 92,077 shares of the company’s stock worth $831,000 after buying an additional 2,631 shares during the period. Opal Wealth Advisors LLC acquired a new stake in VanEck Digital Transformation ETF in the first quarter valued at approximately $28,000. Finally, Golden State Wealth Management LLC purchased a new position in VanEck Digital Transformation ETF in the fourth quarter worth approximately $60,000.

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.