VanEck BDC Income ETF (NYSEARCA:BIZD) Shares Gap Down – Should You Sell?

VanEck BDC Income ETF (NYSEARCA:BIZD) shares gapped down prior to trading on Wednesday . The stock had previously closed at $12.80, but opened at $12.37. VanEck BDC Income ETF shares last traded at $12.12, with a volume of 489,720 shares trading hands.

VanEck BDC Income ETF Stock Performance

The stock’s fifty day moving average price is $13.16 and its 200-day moving average price is $14.01. The company has a market capitalization of $1.40 billion, a P/E ratio of 11.32 and a beta of 0.82.

Institutional Trading of VanEck BDC Income ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its stake in shares of VanEck BDC Income ETF by 7.5% during the 4th quarter. Morgan Stanley now owns 6,353,665 shares of the company’s stock worth $90,095,000 after acquiring an additional 446,026 shares during the period. Bank of America Corp DE raised its stake in VanEck BDC Income ETF by 16.7% in the 3rd quarter. Bank of America Corp DE now owns 6,181,178 shares of the company’s stock valued at $92,347,000 after acquiring an additional 885,913 shares during the period. Wells Fargo & Company MN raised its stake in VanEck BDC Income ETF by 126.1% in the 4th quarter. Wells Fargo & Company MN now owns 4,413,105 shares of the company’s stock valued at $62,578,000 after acquiring an additional 2,460,983 shares during the period. Generali Asset Management SPA SGR acquired a new stake in VanEck BDC Income ETF during the 3rd quarter valued at $32,868,000. Finally, Cambridge Associates LLC MA ADV lifted its holdings in VanEck BDC Income ETF by 279.0% during the 4th quarter. Cambridge Associates LLC MA ADV now owns 1,747,956 shares of the company’s stock valued at $24,786,000 after purchasing an additional 1,286,774 shares during the last quarter.

VanEck BDC Income ETF Company Profile

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.