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

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

VanEck Digital Transformation ETF Trading Down 4.9%

NASDAQ DAPP traded down $0.93 on Friday, hitting $18.03. 1,342,562 shares of the company traded hands, compared to its average volume of 694,602. The business’s 50 day moving average price is $18.69 and its 200-day moving average price is $19.67. VanEck Digital Transformation ETF has a 52-week low of $7.80 and a 52-week high of $27.49. The company has a market capitalization of $335.36 million, a price-to-earnings ratio of 2.89 and a beta of 3.50.

Institutional Investors Weigh In On VanEck Digital Transformation ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAPP. Flagship Harbor Advisors LLC bought a new position in shares of VanEck Digital Transformation ETF in the fourth quarter worth approximately $41,000. Group One Trading LLC raised its position in shares of VanEck Digital Transformation ETF by 77.6% during the 2nd quarter. Group One Trading LLC now owns 3,223 shares of the company’s stock valued at $53,000 after purchasing an additional 1,408 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of VanEck Digital Transformation ETF during the 2nd quarter valued at $116,000. Steward Partners Investment Advisory LLC bought a new position in VanEck Digital Transformation ETF in the 2nd quarter worth $128,000. Finally, Qube Research & Technologies Ltd increased its stake in VanEck Digital Transformation ETF by 91.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 9,019 shares of the company’s stock worth $149,000 after buying an additional 4,304 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.