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

VanEck Digital Transformation ETF (NASDAQ:DAPP) was the target of 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. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 348,400 shares, the days-to-cover ratio is currently 0.8 days.

VanEck Digital Transformation ETF Stock Performance

Shares of NASDAQ DAPP traded up $0.88 during midday trading on Tuesday, reaching $9.80. 53,307 shares of the company traded hands, compared to its average volume of 341,285. The stock’s 50-day simple moving average is $10.70 and its 200-day simple moving average is $14.00. VanEck Digital Transformation ETF has a 12 month low of $7.80 and a 12 month high of $20.71. The firm has a market cap of $141.37 million, a PE ratio of 2.89 and a beta of 2.90.

Institutional Investors Weigh In On VanEck Digital Transformation ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of DAPP. TCP Asset Management LLC raised its holdings 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 buying an additional 683 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in VanEck Digital Transformation ETF by 11.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 22,850 shares of the company’s stock worth $206,000 after purchasing an additional 2,367 shares during the last quarter. Gainplan LLC lifted its holdings in VanEck Digital Transformation ETF by 2.9% during the 1st quarter. Gainplan LLC now owns 92,077 shares of the company’s stock worth $831,000 after buying an additional 2,631 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in VanEck Digital Transformation ETF in the 1st quarter valued at $28,000. Finally, Golden State Wealth Management LLC bought a new position in VanEck Digital Transformation ETF in the fourth quarter valued at about $60,000.

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.