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

VanEck Digital Transformation ETF (NASDAQ:DAPP) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 150,200 shares, a drop of 65.2% from the October 15th total of 432,100 shares. Based on an average daily trading volume, of 273,400 shares, the short-interest ratio is currently 0.5 days.

VanEck Digital Transformation ETF Stock Down 8.4 %

DAPP stock traded down $1.57 during midday trading on Wednesday, hitting $17.15. The company’s stock had a trading volume of 456,974 shares, compared to its average volume of 279,101. The stock has a market cap of $184.31 million, a price-to-earnings ratio of 2.89 and a beta of 2.90. The stock’s 50-day moving average price is $12.48 and its 200 day moving average price is $11.70. VanEck Digital Transformation ETF has a 1 year low of $5.53 and a 1 year high of $19.56.

Hedge Funds Weigh In On VanEck Digital Transformation ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise increased its holdings in VanEck Digital Transformation ETF by 13.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 11,777 shares of the company’s stock worth $138,000 after acquiring an additional 1,409 shares during the last quarter. Gainplan LLC increased its stake in shares of VanEck Digital Transformation ETF by 2.2% in the third quarter. Gainplan LLC now owns 86,811 shares of the company’s stock worth $1,041,000 after purchasing an additional 1,876 shares in the last quarter. TCP Asset Management LLC increased its stake in shares of VanEck Digital Transformation ETF by 12.1% in the third quarter. TCP Asset Management LLC now owns 18,543 shares of the company’s stock worth $218,000 after purchasing an additional 2,000 shares in the last quarter. Western Wealth Management LLC boosted its holdings in VanEck Digital Transformation ETF by 17.0% in the 2nd quarter. Western Wealth Management LLC now owns 24,566 shares of the company’s stock worth $295,000 after buying an additional 3,575 shares during the period. Finally, Evermay Wealth Management LLC purchased a new position in VanEck Digital Transformation ETF in the 1st quarter valued at approximately $761,000.

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.