VanEck Energy Income ETF (NYSEARCA:EINC) Stock Price Down 1.8% – Here’s What Happened

VanEck Energy Income ETF (NYSEARCA:EINC) shares fell 1.8% during trading on Thursday. The company traded as low as $115.28 and last traded at $115.40. 1,813 shares were traded during trading, a decline of 83% from the average session volume of 10,722 shares. The stock had previously closed at $117.46.

VanEck Energy Income ETF Stock Performance

The firm’s 50-day simple moving average is $118.58 and its 200 day simple moving average is $118.93. The company has a market cap of $79.63 million, a P/E ratio of 19.11 and a beta of 0.63.

Hedge Funds Weigh In On VanEck Energy Income ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new position in VanEck Energy Income ETF during the third quarter worth about $1,129,000. Tucker Asset Management LLC grew its position in shares of VanEck Energy Income ETF by 123.9% during the 2nd quarter. Tucker Asset Management LLC now owns 4,061 shares of the company’s stock worth $484,000 after buying an additional 2,247 shares during the period. Compass Financial Management LLC acquired a new position in shares of VanEck Energy Income ETF during the 2nd quarter worth about $329,000. Copley Financial Group Inc. increased its stake in shares of VanEck Energy Income ETF by 15.6% in the 2nd quarter. Copley Financial Group Inc. now owns 51,459 shares of the company’s stock valued at $6,134,000 after acquiring an additional 6,950 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of VanEck Energy Income ETF in the 1st quarter valued at about $229,000.

About VanEck Energy Income ETF

The VanEck Energy Income ETF (EINC) is an exchange-traded fund that mostly invests in energy equity. The fund tracks a market cap-weighted index of North American companies in midstream energy segments. EINC was launched on Mar 13, 2012 and is managed by VanEck.