VanEck Digital Transformation ETF (NASDAQ:DAPP) Shares Down 1% – Should You Sell?

VanEck Digital Transformation ETF (NASDAQ:DAPP) fell 1% on Monday . The stock traded as low as $14.93 and last traded at $15.23. 323,894 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 603,543 shares. The stock had previously closed at $15.39.

VanEck Digital Transformation ETF Trading Down 1.0%

The stock’s 50-day moving average is $17.76 and its 200-day moving average is $19.46. The stock has a market cap of $283.28 million, a price-to-earnings ratio of 2.89 and a beta of 3.50.

Hedge Funds Weigh In On VanEck Digital Transformation ETF

Several hedge funds and other institutional investors have recently made changes to their positions in DAPP. Private Advisor Group LLC boosted its stake in VanEck Digital Transformation ETF by 2,219.3% during the 3rd quarter. Private Advisor Group LLC now owns 540,445 shares of the company’s stock valued at $11,755,000 after acquiring an additional 517,143 shares during the last quarter. Bank of America Corp DE raised its stake in shares of VanEck Digital Transformation ETF by 285.8% in the 3rd quarter. Bank of America Corp DE now owns 402,699 shares of the company’s stock valued at $8,759,000 after purchasing an additional 298,321 shares in the last quarter. JP Wealth Management Inc. bought a new position in shares of VanEck Digital Transformation ETF during the third quarter worth about $5,863,000. Jane Street Group LLC lifted its position in shares of VanEck Digital Transformation ETF by 179.1% during the first quarter. Jane Street Group LLC now owns 396,256 shares of the company’s stock worth $3,578,000 after purchasing an additional 254,265 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in VanEck Digital Transformation ETF by 3,446.1% in the second quarter. Geneos Wealth Management Inc. now owns 124,396 shares of the company’s stock worth $2,059,000 after purchasing an additional 120,888 shares in the last quarter.

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.