VanEck BDC Income ETF (NYSEARCA:BIZD) Shares Gap Down – What’s Next?

Shares of VanEck BDC Income ETF (NYSEARCA:BIZD) 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 changing hands.

VanEck BDC Income ETF Stock Down 4.7%

The stock has a 50-day moving average of $13.25 and a 200 day moving average of $14.03. The stock has a market cap of $1.38 billion, a PE ratio of 11.32 and a beta of 0.82.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Beacon Pointe Advisors LLC acquired a new position in VanEck BDC Income ETF in the 2nd quarter valued at about $2,247,000. Bessemer Group Inc. purchased a new stake in shares of VanEck BDC Income ETF during the 3rd quarter valued at approximately $3,444,000. Mission Hills Financial Advisory LLC lifted its holdings in VanEck BDC Income ETF by 12.3% in the third quarter. Mission Hills Financial Advisory LLC now owns 1,122,164 shares of the company’s stock valued at $16,765,000 after acquiring an additional 122,931 shares during the last quarter. Touchstone Capital Inc. purchased a new position in VanEck BDC Income ETF in the third quarter worth approximately $15,495,000. Finally, WMG Financial Advisors LLC increased its stake in VanEck BDC Income ETF by 192.3% during the third quarter. WMG Financial Advisors LLC now owns 79,950 shares of the company’s stock worth $1,194,000 after acquiring an additional 52,600 shares during the last quarter.

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.