BIZD Crowded With Sellers

In trading on Tuesday, shares of the VanEck BDC Income ETF (Symbol: BIZD) entered into oversold territory, changing hands as low as $14.08 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of VanEck BDC Income, the RSI reading has hit 27.4 — by comparison, the RSI reading for the S&P 500 is currently 73.3. A bullish investor could look at BIZD's 27.4 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), BIZD's low point in its 52 week range is $13.50 per share, with $17.8565 as the 52 week high point — that compares with a last trade of $14.12. VanEck BDC Income shares are currently trading off about 1.3% on the day.

Click here to find out what 9 other oversold dividend stocks you need to know about »

Also see: • Trucking Dividend Stocks
• BINI Average Annual Return
• KLR YTD Return


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