VanEck Office and Commercial REIT ETF (NYSEARCA:DESK) Sees Significant Decrease in Short Interest

VanEck Office and Commercial REIT ETF (NYSEARCA:DESK) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 2,770 shares, a drop of 42.7% from the February 26th total of 4,834 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average trading volume of 520 shares, the days-to-cover ratio is currently 5.3 days.

VanEck Office and Commercial REIT ETF Trading Down 2.2%

Shares of DESK stock traded down $0.73 during trading hours on Friday, reaching $32.00. 2,022 shares of the company’s stock were exchanged, compared to its average volume of 985. VanEck Office and Commercial REIT ETF has a 1 year low of $32.00 and a 1 year high of $43.78. The stock has a market cap of $1.92 million, a PE ratio of 35.65 and a beta of 1.21. The stock’s fifty day moving average price is $35.41 and its two-hundred day moving average price is $38.02.

Institutional Trading of VanEck Office and Commercial REIT ETF

A hedge fund recently raised its stake in VanEck Office and Commercial REIT ETF stock. Napa Wealth Management lifted its position in VanEck Office and Commercial REIT ETF (NYSEARCA:DESK) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,342 shares of the company’s stock after purchasing an additional 1,150 shares during the quarter. Napa Wealth Management owned about 20.57% of VanEck Office and Commercial REIT ETF worth $491,000 as of its most recent SEC filing.

VanEck Office and Commercial REIT ETF Company Profile

The VanEck Office and Commercial REIT ETF (DESK) is an exchange-traded fund that mostly invests in real estate equity. The fund tracks a tiered modified market-cap weighted index composed of US-listed Office and Commercial REITs. The fund targets the top 25 highest ranked Office and Commerical REITs based on market cap and liquidity DESK was launched on Sep 19, 2023 and is issued by VanEck.