VanEck Digital Transformation ETF (NASDAQ:DAPP) Sees Significant Increase in Short Interest

VanEck Digital Transformation ETF (NASDAQ:DAPP) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 310,295 shares, a growth of 57.4% from the December 31st total of 197,181 shares. Based on an average daily volume of 730,326 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.7% of the shares of the company are short sold. Currently, 1.7% of the shares of the company are short sold. Based on an average daily volume of 730,326 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new stake in VanEck Digital Transformation ETF in the 4th quarter valued at about $41,000. Group One Trading LLC lifted its position in shares of VanEck Digital Transformation ETF by 77.6% in the 2nd quarter. Group One Trading LLC now owns 3,223 shares of the company’s stock valued at $53,000 after acquiring an additional 1,408 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in VanEck Digital Transformation ETF during the 2nd quarter worth about $116,000. Steward Partners Investment Advisory LLC purchased a new stake in VanEck Digital Transformation ETF in the 2nd quarter worth approximately $128,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of VanEck Digital Transformation ETF by 91.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 9,019 shares of the company’s stock worth $149,000 after purchasing an additional 4,304 shares in the last quarter.

VanEck Digital Transformation ETF Trading Down 4.9%

Shares of NASDAQ:DAPP traded down $0.93 during midday trading on Friday, hitting $18.03. 1,342,562 shares of the stock were exchanged, compared to its average volume of 694,602. VanEck Digital Transformation ETF has a twelve month low of $7.80 and a twelve month high of $27.49. The company has a 50 day moving average price of $18.69 and a 200-day moving average price of $19.65. The stock has a market cap of $335.36 million, a P/E ratio of 2.89 and a beta of 3.50.

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.