VanEck BDC Income ETF (NYSEARCA:BIZD) Stock Breaks Below Fifty Day Moving Average – Here’s Why

VanEck BDC Income ETF (NYSEARCA:BIZD) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $12.55 and traded as low as $12.43. VanEck BDC Income ETF shares last traded at $12.44, with a volume of 1,263,043 shares.

VanEck BDC Income ETF Price Performance

The company has a fifty day moving average of $12.55 and a 200-day moving average of $12.79. The firm has a market capitalization of $1.48 billion, a PE ratio of 12.16 and a beta of 0.67.

Institutional Investors Weigh In On VanEck BDC Income ETF

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in VanEck BDC Income ETF by 30.8% in the 1st quarter. Bank of America Corp DE now owns 7,624,033 shares of the company’s stock worth $97,588,000 after purchasing an additional 1,794,136 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of VanEck BDC Income ETF in the third quarter valued at approximately $53,185,000. Cambridge Associates LLC MA ADV raised its position in shares of VanEck BDC Income ETF by 38.7% in the first quarter. Cambridge Associates LLC MA ADV now owns 2,424,628 shares of the company’s stock valued at $31,035,000 after purchasing an additional 676,672 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of VanEck BDC Income ETF by 12.2% in the third quarter. Apollon Wealth Management LLC now owns 1,599,804 shares of the company’s stock worth $20,621,000 after buying an additional 174,060 shares during the last quarter. Finally, Independent Financial Group LLC bought a new stake in shares of VanEck BDC Income ETF during the 1st quarter worth $13,576,000.

About VanEck BDC Income ETF

The VanEck BDC Income ETF (BIZD) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a market cap-weighted index of US BDC companies whose principal business is to invest in, lend capital to, or provide services to privately held companies. BIZD was launched on Feb 12, 2013 and is managed by VanEck.