VanEck BDC Income ETF (NYSEARCA:BIZD) Sets New 52-Week Low – Here’s Why

VanEck BDC Income ETF (NYSEARCA:BIZD) shares hit a new 52-week low during trading on Friday . The stock traded as low as $12.89 and last traded at $12.8080, with a volume of 753309 shares trading hands. The stock had previously closed at $13.16.

VanEck BDC Income ETF Stock Performance

The stock has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $14.54. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 11.32 and a beta of 0.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in shares of VanEck BDC Income ETF by 126.1% in the fourth quarter. Wells Fargo & Company MN now owns 4,413,105 shares of the company’s stock worth $62,578,000 after acquiring an additional 2,460,983 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in VanEck BDC Income ETF during the 3rd quarter worth approximately $32,868,000. Bank of America Corp DE lifted its stake in VanEck BDC Income ETF by 62.6% in the 2nd quarter. Bank of America Corp DE now owns 5,295,265 shares of the company’s stock valued at $86,207,000 after purchasing an additional 2,038,234 shares during the last quarter. Cambridge Associates LLC MA ADV boosted its position in VanEck BDC Income ETF by 279.0% in the fourth quarter. Cambridge Associates LLC MA ADV now owns 1,747,956 shares of the company’s stock valued at $24,786,000 after buying an additional 1,286,774 shares in the last quarter. Finally, Transcend Capital Advisors LLC acquired a new stake in VanEck BDC Income ETF in the fourth quarter valued at approximately $15,428,000.

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.