VanEck BDC Income ETF (NYSEARCA:BIZD) Reaches New 1-Year Low – Here’s Why

VanEck BDC Income ETF (NYSEARCA:BIZD)’s share price hit a new 52-week low on Friday . The stock traded as low as $12.38 and last traded at $12.39, with a volume of 3999644 shares. The stock had previously closed at $12.64.

VanEck BDC Income ETF Price Performance

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.32 and a beta of 0.82. The stock has a fifty day moving average of $13.32 and a two-hundred day moving average of $14.09.

Institutional Investors Weigh In On VanEck BDC Income ETF

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of VanEck BDC Income ETF by 19.1% during the first quarter. Royal Bank of Canada now owns 466,339 shares of the company’s stock worth $7,816,000 after acquiring an additional 74,858 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in VanEck BDC Income ETF by 297.3% in the first quarter. Goldman Sachs Group Inc. now owns 51,427 shares of the company’s stock valued at $862,000 after acquiring an additional 38,483 shares during the last quarter. Cetera Investment Advisers increased its position in VanEck BDC Income ETF by 11.1% during the 2nd quarter. Cetera Investment Advisers now owns 120,429 shares of the company’s stock valued at $1,961,000 after purchasing an additional 12,002 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in VanEck BDC Income ETF during the 2nd quarter valued at approximately $254,000. Finally, Russell Investments Group Ltd. bought a new position in VanEck BDC Income ETF during the 2nd quarter worth approximately $25,000.

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.