VanEck BDC Income ETF (NYSEARCA:BIZD) Shares Down 1.4% – Here’s What Happened

VanEck BDC Income ETF (NYSEARCA:BIZD)’s stock price dropped 1.4% during trading on Tuesday . The stock traded as low as $13.13 and last traded at $13.14. 3,242,094 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 3,446,173 shares. The stock had previously closed at $13.33.

VanEck BDC Income ETF Trading Down 0.6%

The stock has a market capitalization of $1.65 billion, a P/E ratio of 11.32 and a beta of 0.65. The firm’s fifty day moving average is $12.93 and its 200-day moving average is $12.77.

Hedge Funds Weigh In On VanEck BDC Income ETF

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in shares of VanEck BDC Income ETF during the 2nd quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in shares of VanEck BDC Income ETF in the 4th quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC bought a new position in VanEck BDC Income ETF during the 4th quarter worth approximately $26,000. Group One Trading LLC boosted its stake in VanEck BDC Income ETF by 402.5% during the 2nd quarter. Group One Trading LLC now owns 2,010 shares of the company’s stock worth $33,000 after acquiring an additional 1,610 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new position in VanEck BDC Income ETF during the first quarter valued at approximately $35,000.

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.