VanEck BDC Income ETF (NYSEARCA:BIZD) Sets New 52-Week High – Still a Buy?

VanEck BDC Income ETF (NYSEARCA:BIZD) shares reached a new 52-week high on Friday . The company traded as high as $17.43 and last traded at $17.46, with a volume of 168316 shares changing hands. The stock had previously closed at $17.38.

VanEck BDC Income ETF Price Performance

The stock has a market capitalization of $1.13 billion, a P/E ratio of 18.42 and a beta of 0.58. The stock’s 50-day simple moving average is $16.83 and its 200 day simple moving average is $16.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in VanEck BDC Income ETF by 130.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 235,203 shares of the company’s stock valued at $4,024,000 after purchasing an additional 133,044 shares during the period. Millennium Management LLC raised its holdings in VanEck BDC Income ETF by 45.0% in the 2nd quarter. Millennium Management LLC now owns 1,240,908 shares of the company’s stock valued at $21,232,000 after acquiring an additional 385,244 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of VanEck BDC Income ETF by 31.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,058 shares of the company’s stock valued at $172,000 after acquiring an additional 2,396 shares during the period. Truist Financial Corp acquired a new stake in shares of VanEck BDC Income ETF during the 2nd quarter worth $248,000. Finally, Cetera Investment Advisers increased its position in shares of VanEck BDC Income ETF by 4.1% in the second quarter. Cetera Investment Advisers now owns 102,128 shares of the company’s stock worth $1,747,000 after purchasing an additional 3,988 shares during the period.

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.