VanEck BDC Income ETF Hits Oversold Territory at $16.185

In trading on Thursday, shares of the VanEck BDC Income ETF (Symbol: BIZD) fell into oversold territory, reaching a low of $16.185 per share. The Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100, is used to identify oversold conditions. Stocks are classified as oversold if the RSI is below 30.

For VanEck BDC Income, the current RSI reading stands at 29.4, while the S&P 500 registers a slightly lower RSI of 28.4. This indicates that BIZD is experiencing a significant downturn compared to the broader market.

A bullish investor might interpret BIZD’s RSI of 29.4 as a potential signal that the recent heavy selling could be nearing its limit. Such an investor may start to seek buying opportunities in light of this oversold condition.

Examining the one-year performance chart, it’s evident that BIZD has a 52-week low of $15.175 per share and a high of $17.8565. The last recorded trade was at $16.22, indicating that shares are currently down about 1.6% on the day.

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Also See:

• Cheap Stocks Channel
• Top Ten Hedge Funds Holding EZJ
• Institutional Holders of SQNS

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.