VanEck Digital Transformation ETF (NASDAQ:DAPP) Stock Price Down 1% – Time to Sell?

VanEck Digital Transformation ETF (NASDAQ:DAPP) shares dropped 1% during trading on Wednesday . The stock traded as low as $18.92 and last traded at $19.12. 367,422 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 792,254 shares. The stock had previously closed at $19.32.

VanEck Digital Transformation ETF Trading Down 5.1%

The stock has a market capitalization of $239.26 million, a price-to-earnings ratio of 2.89 and a beta of 3.44. The stock’s 50 day moving average is $20.27 and its two-hundred day moving average is $18.61.

Institutional Trading of VanEck Digital Transformation ETF

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of VanEck Digital Transformation ETF by 179.1% during the first quarter. Jane Street Group LLC now owns 396,256 shares of the company’s stock worth $3,578,000 after buying an additional 254,265 shares in the last quarter. Cetera Investment Advisers lifted its stake in VanEck Digital Transformation ETF by 65.7% in the 2nd quarter. Cetera Investment Advisers now owns 21,864 shares of the company’s stock valued at $362,000 after acquiring an additional 8,666 shares in the last quarter. Qube Research & Technologies Ltd lifted 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 valued at $149,000 after acquiring an additional 4,304 shares in the last quarter. Bank of America Corp DE boosted its position in VanEck Digital Transformation ETF by 111.4% during the 2nd quarter. Bank of America Corp DE now owns 104,378 shares of the company’s stock worth $1,727,000 after acquiring an additional 55,001 shares during the last quarter. Finally, Group One Trading LLC boosted its position in 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 worth $53,000 after acquiring an additional 1,408 shares during the last quarter.

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.