Short Interest in VanEck Digital Transformation ETF (NASDAQ:DAPP) Drops By 41.4%

VanEck Digital Transformation ETF (NASDAQ:DAPP) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 128,300 shares, a drop of 41.4% from the February 29th total of 218,900 shares. Based on an average trading volume of 381,700 shares, the days-to-cover ratio is presently 0.3 days.

VanEck Digital Transformation ETF Price Performance

Shares of DAPP traded up $0.10 during trading hours on Thursday, hitting $11.65. 443,159 shares of the company were exchanged, compared to its average volume of 353,801. The company has a market capitalization of $106.60 million, a PE ratio of 2.89 and a beta of 2.90. The firm has a fifty day simple moving average of $9.42 and a 200-day simple moving average of $7.87. VanEck Digital Transformation ETF has a one year low of $4.20 and a one year high of $12.45.

Institutional Investors Weigh In On VanEck Digital Transformation ETF

Several large investors have recently modified their holdings of the stock. UBS Group AG lifted its holdings in shares of VanEck Digital Transformation ETF by 446.4% in the first quarter. UBS Group AG now owns 3,508 shares of the company’s stock valued at $53,000 after purchasing an additional 2,866 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of VanEck Digital Transformation ETF in the third quarter valued at $62,000. Morgan Stanley raised its holdings in shares of VanEck Digital Transformation ETF by 110.7% during the fourth quarter. Morgan Stanley now owns 25,563 shares of the company’s stock worth $68,000 after acquiring an additional 13,431 shares in the last quarter. Simplex Trading LLC purchased a new stake in shares of VanEck Digital Transformation ETF during the fourth quarter worth $75,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of VanEck Digital Transformation ETF during the second quarter worth $80,000.

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.