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

VanEck Digital Transformation ETF (NASDAQ:DAPP) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 516,540 shares, an increase of 103.5% from the April 15th total of 253,832 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,172,246 shares, the days-to-cover ratio is currently 0.4 days.

VanEck Digital Transformation ETF Stock Down 6.7%

Shares of DAPP stock traded down $1.50 during trading hours on Friday, hitting $20.91. 494,684 shares of the company’s stock were exchanged, compared to its average volume of 780,920. The firm has a market cap of $512.30 million, a P/E ratio of 2.89 and a beta of 3.41. The firm has a 50 day moving average of $17.78 and a two-hundred day moving average of $18.26. VanEck Digital Transformation ETF has a fifty-two week low of $12.47 and a fifty-two week high of $27.49.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Cetera Investment Advisers raised its stake in VanEck Digital Transformation ETF by 86.7% in the 1st quarter. Cetera Investment Advisers now owns 105,369 shares of the company’s stock valued at $1,572,000 after purchasing an additional 48,927 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in VanEck Digital Transformation ETF in the 1st quarter valued at $29,000. Independent Financial Group LLC acquired a new position in VanEck Digital Transformation ETF in the 1st quarter valued at $359,000. Private Advisor Group LLC raised its stake in VanEck Digital Transformation ETF by 4.5% in the 1st quarter. Private Advisor Group LLC now owns 565,964 shares of the company’s stock valued at $8,444,000 after purchasing an additional 24,466 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in VanEck Digital Transformation ETF in the 4th quarter valued at $1,247,000.

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.