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

VanEck Digital Transformation ETF (NASDAQ:DAPP) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 84,523 shares, a decline of 84.6% from the August 15th total of 547,102 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 916,870 shares, the short-interest ratio is presently 0.1 days.

VanEck Digital Transformation ETF Price Performance

VanEck Digital Transformation ETF stock traded up $0.64 during mid-day trading on Friday, reaching $20.14. 282,017 shares of the company traded hands, compared to its average volume of 776,051. VanEck Digital Transformation ETF has a 52-week low of $13.68 and a 52-week high of $27.49. The firm has a market capitalization of $261.48 million, a price-to-earnings ratio of 2.89 and a beta of 3.45. The firm’s 50 day moving average price is $18.60 and its 200 day moving average price is $18.76.

Hedge Funds Weigh In On VanEck Digital Transformation ETF

Several hedge funds and other institutional investors have recently modified their holdings of DAPP. Gainplan LLC boosted its position in VanEck Digital Transformation ETF by 3.3% during the 2nd quarter. Gainplan LLC now owns 38,951 shares of the company’s stock valued at $755,000 after acquiring an additional 1,237 shares in the last quarter. Western Wealth Management LLC raised its position in shares of VanEck Digital Transformation ETF by 6.6% in the 1st quarter. Western Wealth Management LLC now owns 42,690 shares of the company’s stock worth $637,000 after acquiring an additional 2,630 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of 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 period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of VanEck Digital Transformation ETF in the 1st quarter valued at approximately $29,000. Finally, Independent Financial Group LLC purchased a new position in shares of VanEck Digital Transformation ETF in the 1st quarter valued at approximately $359,000.

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.