VanEck Digital Transformation ETF (NASDAQ:DAPP) Trading Down 2.5% – Here’s What Happened

VanEck Digital Transformation ETF (NASDAQ:DAPP) fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $19.11 and last traded at $19.38. Approximately 371,477 shares changed hands during trading, a decline of 54% from the average daily volume of 815,534 shares. The stock had previously closed at $19.88.

VanEck Digital Transformation ETF Stock Performance

The company has a market cap of $474.81 million, a P/E ratio of 2.89 and a beta of 3.42. The business has a fifty day simple moving average of $20.87 and a 200 day simple moving average of $18.48.

Hedge Funds Weigh In On VanEck Digital Transformation ETF

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC increased its stake in VanEck Digital Transformation ETF by 4.5% during the first quarter. Private Advisor Group LLC now owns 565,964 shares of the company’s stock valued at $8,444,000 after purchasing an additional 24,466 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of VanEck Digital Transformation ETF by 285.8% during the third quarter. Bank of America Corp DE now owns 402,699 shares of the company’s stock worth $8,759,000 after purchasing an additional 298,321 shares during the period. Jane Street Group LLC raised its holdings 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 period. JP Wealth Management Inc. lifted its position in shares of VanEck Digital Transformation ETF by 2.2% in the 4th quarter. JP Wealth Management Inc. now owns 275,570 shares of the company’s stock worth $4,555,000 after buying an additional 6,000 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of VanEck Digital Transformation ETF by 100.0% in the 2nd quarter. Corient Private Wealth LLC now owns 191,390 shares of the company’s stock worth $3,168,000 after buying an additional 95,695 shares during the last quarter.

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.