Zacks Investment ResearchT3·2d ago
BIZD VanEck BDC Income ETF
ETF 11.93 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
BIZD
$11.93
—
Key stats
$11.93
- 52-Week Range
- $11.73 – $15.12
- YTD
- -16.37%
- IV Rank (30D)
- 1.93
- Straddle Price
- $0.55
- P/C Vol Ratio
- 0.95
- Open
- $11.91
- Day Range
- $11.86 – $11.97
- Volume
- 630,626
- Prev Close
- $12.06
About
VanEck BDC Income ETF (BIZD) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2013-02-11
- Has Options
- Yes
- Homepage
- https://www.vaneck.com/us/en/investments/etf/
Fund profile
holdings as of Oct 21, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 9.69% issuer, Oct 23, 2026
- Assets
- $1.4B issuer-reported, Oct 21, 2026
- Trailing yield
- 12.93% paid quarterly
- Average daily volume
- $31M 30 sessions
- Holdings
- 36 top 10 are 80.0%
- Listed
- Feb 11, 2013 NYSE Arca
- Tracking difference
- -0.17 pts vs index, after fees, FY 2025
Cost0
Liquidity83
Scale80
Diversification20
Moves with. US large-cap stocks (16% of its variance, beta 0.59); Long Treasuries (5% of its variance, beta 0.45); Bitcoin (4% of its variance, beta 0.06); Small caps over large (3% of its variance, beta 0.25). These factors explain 30% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. VanEck BDC Income ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS US Business Development Companies Index (the BDC Index or the Index). (from the fund's prospectus)
All 36 holdingsFlow historySimilar fundsOverlap toolAll Bank Loans & CLOs ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- +$53M latest reported month
- Latest 3 months
- +$183M +11.2% of assets
- Latest 12 months
- +$433M +26.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$53M |
| May 2026 | +$16M |
| Apr 2026 | +$114M |
| Mar 2026 | +$12M |
| Feb 2026 | −$4.2M |
| Jan 2026 | +$952K |
| Dec 2025 | +$92M |
| Nov 2025 | −$19M |
| Oct 2025 | +$30M |
| Sep 2025 | +$23M |
| Aug 2025 | +$39M |
| Jul 2025 | +$75M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 83 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| PBDCPutnam BDC Income ETF | 53% | 11.77% | $262M | −17.0% | compare |
| FBDCFT Confluence BDC & Specialty Finance Income ETF | 47% | — | $34M | −15.1% | compare |
| PEXProShares Global Listed Private Equity ETF | 34% | 2.95% | $10M | −14.2% | compare |
| LBOWHITEWOLF Publicly Listed Private Equity ETF | 30% | 6.53% | $7.1M | −14.9% | compare |
| HYINWisdomTree Private Credit and Alternative Income Fund | 25% | 4.34% | $52M | −24.8% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 21, 2026issuer data- Holdings vs fair value
- +47.3% 98% under, 0% over · 91% covered
- Price / earnings
- 15.6 8% loss-making · 89% covered
- Price / book · sales
- 0.8 · 4.7 revenue growth +5.3%
- Above 200-day average
- 6% 1% above 50-day · by weight
- Short interest
- 5.6% of float, weighted · 8.6 days to cover
- Insider buying
- 31% of weight had net insider buying, 90 days; 15% net selling
- 13F holders
- +5.9% change in shares held by institutions, latest quarter
- Reporting earnings
- 27.8% of weight in 7 days; 88.8% in 14
Largest contributors above fair value
Holdings reporting in the next 14 days · weighted implied move this week 1.46%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | BXSLBlackstone Secured Lending Fund | 2.69% | 5.35% | +85.7% |
| Decrease | OBDCBlue Owl Capital Corp | 7.81% | 5.88% | −28.4% |
| Decrease | MAINMain Street Capital Corp | 6.69% | 5.26% | −25.0% |
| Increase | TRINTrinity Capital Inc | 1.23% | 1.99% | +24.4% |
| Increase | MSDLMorgan Stanley Direct Lending Fund | 0.99% | 1.51% | +32.1% |
| Increase | CSWCCapital Southwest Corp | 1.34% | 1.83% | +18.9% |
| Increase | OCSLOaktree Specialty Lending Corp | 1.00% | 1.30% | +15.2% |
| Increase | GSBDGoldman Sachs BDC Inc | 0.95% | 1.24% | +15.2% |
| Increase | TSLXSixth Street Specialty Lending Inc | 1.75% | 2.02% | +15.5% |
| Increase | FDUSFidus Investment Corp | 0.67% | 0.90% | +15.2% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.3%. Full holdings and history
Under the hood
fiscal year to Dec 31, 2025SEC census- Authorized participants
- 9 active of 40 with agreements; top 3 did 89%
- Created · redeemed
- $726M · $233M over the fiscal year
- Redemptions in kind
- 100% creations 0% in kind
- Creation unit
- 25,000 shares
- Securities lending
- 16.11% of assets on loan on average; earned 27.1 bp
- Return vs index
- -0.17 pts after fees; +0.21 before; daily s.d. 0.71
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-21
Holdings
36
AUM
$1.4B
Provider
VanEck
Inception
2013-02-11
Exchange
ARCX
Data As Of
2026-10-21
Expense Ratio
9.69%
Dividend Yield
12.93%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-06 | $0.4371 | CD |
| 2026-07-01 | 2026-07-07 | $0.2391 | CD |
| 2026-04-01 | 2026-04-07 | $0.4818 | CD |
| 2025-12-29 | 2025-12-31 | $0.4015 | CD |
| 2025-10-01 | 2025-10-06 | $0.4012 | CD |
| 2025-07-01 | 2025-07-07 | $0.4386 | CD |
Asset Allocation
Top Holdings
top 36 of 36 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | United States Treasury Bill | 19.60% | Treasury | US |
| — | United States Treasury Bill | 19.39% | Treasury | US |
| ARCC | Ares Capital Corp | 14.19% | Equity (US) | US |
| MAIN | Main Street Capital Corp | 5.41% | Equity (US) | US |
| OBDC | Blue Owl Capital Corp | 5.29% | Equity (US) | US |
| BXSL | Blackstone Secured Lending Fund | 5.26% | Equity (US) | US |
| GBDC | Golub Capital BDC Inc | 2.89% | Equity (US) | US |
| HTGC | Hercules Capital Inc | 2.86% | Equity (US) | US |
| FSK | Fs Kkr Capital Corp | 2.61% | Equity (US) | US |
| OTF | Blue Owl Technology Finance Corp | 2.51% | Equity (US) | US |
| TSLX | Sixth Street Specialty Lending Inc | 2.04% | Equity (US) | US |
| TRIN | Trinity Capital Inc | 1.93% | Equity (US) | US |
| CSWC | Capital Southwest Corp | 1.80% | Equity (US) | US |
| MSDL | Morgan Stanley Direct Lending Fund | 1.30% | Equity (US) | US |
| OCSL | Oaktree Specialty Lending Corp | 1.25% | Equity (US) | US |
| GSBD | Goldman Sachs BDC Inc | 1.14% | Equity (US) | US |
| BBDC | Barings BDC Inc | 0.95% | Equity (US) | US |
| FDUS | Fidus Investment Corp | 0.87% | Equity (US) | US |
| CGBD | Tcg BDC Inc | 0.87% | Equity (US) | US |
| MFIC | Midcap Financial Investment Corp | 0.85% | Equity (US) | US |
| PFLT | Pennantpark Floating Rate Capital Ltd | 0.77% | Equity (US) | US |
| GAIN | Gladstone Investment Corp | 0.74% | Equity (US) | US |
| PSEC | Prospect Capital Corp | 0.72% | Equity (US) | US |
| BCSF | Bain Capital Specialty Finance Inc | 0.67% | Equity (US) | US |
| NMFC | New Mountain Finance Corp | 0.67% | Equity (US) | US |
| MSIF | Msc Income Fund Inc | 0.65% | Equity (US) | US |
| NCDL | Nuveen Churchill Direct Lending Corp | 0.61% | Equity (US) | US |
| SLRC | Slr Investment Corp | 0.58% | Equity (US) | US |
| GLAD | Gladstone Capital Corp | 0.52% | Equity (US) | US |
| KBDC | Kayne Anderson BDC Inc | 0.51% | Equity (US) | — |
| TCPC | Blackrock Tcp Capital Corp | 0.43% | Equity (US) | US |
| CION | Cion Investment Corp | 0.39% | Equity (US) | US |
| — | Cash | 0.18% | Cash/Money Market | US |
| — | Mvbdc Tr (Gross) Swap | 0.00% | Derivative | — |
| — | Mvbdc Tr (Gross) Swap | 0.00% | Derivative | — |
| — | Other/Cash | -0.47% | Cash/Money Market | — |
Non-Equity Breakdown
VanEck BDC Income ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-26)
Net assets:
$1.63B
· 36 total positions
· equity 64.17%
· non-equity 52.39%
Non-equity holdings
— 6 positions,
52.39% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 52.21% | $851.8M | 3 |
| Derivative (equity) | 0.18% | $3.0M | 3 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 3.01% | 1.62% | 7.21% | 1.24% | 4.35% | -1.82% | 2.60% |
| Feb | 8.70% | -1.07% | 0.13% | 0.93% | 0.29% | -7.85% | 0.19% |
| Mar | 3.45% | 2.40% | -4.20% | 4.00% | -4.06% | -0.78% | 0.14% |
| Apr | 4.55% | -5.63% | 1.32% | 2.40% | -7.75% | 8.59% | 0.58% |
| May | 1.79% | -1.58% | 1.87% | 3.10% | 6.82% | -4.97% | 1.17% |
| Jun | -0.67% | -7.16% | 3.23% | -1.55% | 1.75% | -1.09% | -0.92% |
| Jul | 0.06% | 5.29% | 5.20% | 0.24% | 1.63% | -1.20% | 1.87% |
| Aug | 1.12% | -1.00% | 0.06% | -0.66% | 0.81% | 6.04% | 1.06% |
| Sep | -0.23% | -13.01% | 1.46% | 1.28% | -6.80% | -3.45% | -3.46% |
| Oct | 3.66% | 9.78% | -2.81% | 1.69% | 0.07% | -4.29%* | 1.35% |
| Nov | -2.22% | 4.11% | 4.76% | 5.35% | 1.88% | -- | 2.78% |
| Dec | 1.24% | -7.70% | 0.69% | -1.31% | -2.61% | -- | -1.94% |
| Total | 26.84% | -15.09% | 19.97% | 17.78% | -4.56% | -11.30% | 5.61% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $12.20
SMA 50: $12.81
SMA 200: $12.91
Current: $11.93
EMA 12: $12.04
EMA 26: $12.30
MACD: -0.2639 | Signal: 0.0042
BEARISH
ADX (14): 25.87
TREND
+DI: 19.39
−DI: 26.98
Momentum Oscillators
RSI (14): 37.10
NEUTRAL
Stoch %K: 28.50
Stoch %D: 18.68
Williams %R: -66.66
Volume & Volatility
BB Upper: $12.88
BB Lower: $11.52
NEUTRAL
OBV: -90,715,392
Vol SMA 20: 2,646,206
Vol ROC: -61.84%
ATR: $0.22
True Range: $0.21
HV 20: 20.2%
HV 30: 18.4%
HV 60: 19.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary Overall assessment: NEUTRAL with a confidence level of 6/10 Key drivers: Low volatility, positive earnings expectations, and strong options sentiment Primary risks: Market downturn, increasing competition in the business development company (BDC) space Investment thesis: BIZD presents an attractive opportunity for income investors seeking a low-volatility play with a decent dividend yield. Recent news sentiment impact: Neutral headlines did not have a significant impact on the stock price.
Technical Analysis Trend Direction: Short-term bearish, Medium-term neutral, Long-term bullish Support/Resistance Levels: * Upper Bollinger Band: $13.43 (resistance) * Middle Bollinger Band: $12.91 (support) Momentum Signals: * RSI interpretation: Neutral (43.49) * MACD signal: Bullish (0.02 / Signal: -0.06 / Histogram: 0.02) * Bollinger Bands position: Neutral
News & Sentiment Analysis Recent Headlines Summary: Neutral headlines focused on the BDC space and general market commentary. Sentiment Assessment: Neutral Catalyst Identification: No specific catalysts identified, but investors should monitor earnings expectations and options activity for potential price movements.
Risk & Volatility Assessment Beta Interpretation: Low risk relative to the market (beta = 0.72) Volatility Regime: Low volatility regime (volatility = 0.20) Options Market Signals: * IV Rank: Low (20.5%) * Put/Call Volume Ratio: Bullish (0.22) Risk Management: Monitor stop-loss levels and position sizing considerations to manage risk.
Market Context & Positioning Sector Performance: BIZD is outperforming the broader market. Institutional Activity: Volume patterns suggest institutional interest in the stock. Correlation Analysis: Low correlation with the broader market (R-squared = 0.45).
Key Levels & Action Items Critical Price Levels: * Upper Bollinger Band: $13.43 (resistance) * Middle Bollinger Band: $12.91 (support) Breakout/Breakdown Levels: None identified Time-Sensitive Catalysts: Monitor earnings expectations and options activity for potential price movements. Risk Management: Adjust stop-loss levels and position sizing considerations to manage risk.
Additional Insights The stock's low volatility and strong options sentiment are attractive features for income investors. However, investors should be cautious of market downturns and increasing competition in the BDC space. A bullish MACD signal and neutral RSI reading suggest a potential short-term uptrend. Monitor the stock's performance relative to its sector and broader market for further insights.
Confidence Level: 6/10
This report provides an objective analysis of the BIZD stock, highlighting both bullish and bearish cases. The assessment is based on specific data points, including technical indicators, options metrics, and recent news headlines.
Generated
News
All BIZD news →
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Showing 1–10 of 50
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BIZD Options Activity & IV Rank
BIZD IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 22.2%
7-DTE IV: —
Expected Move: $0.55
7-DTE Move: $0.55
Days to Exp: 28 (2026-11-20)
Options Flow
Call Volume: 66
Put Volume: 63
P/C Volume: 0.955
NEUTRAL
Call OI: 414
Put OI: 3,445
P/C OI: 8.321
Total OI: 3,859
ATM Options Pricing
ATM Call: $0.23
ATM Put: $0.33
Call %: 1.9%
Put %: 2.7%
Chain Summary
Chain Volume: 12,891
Chain OI: 26,267
Last Updated: 10/23/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 79th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
79%
vs own history
GEX tilt
-0.33
OI-weighted, today
Vanna tilt
+0.86
δ-sensitivity to IV
Charm tilt
-0.49
δ-decay vs time
Vanna tilt +0.86: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.49: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 11 ATM contracts, 11k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
ATM 19.9% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)1.9LowOct 23
Straddle Price (30 DTE)$0.55Oct 23
Beta Analysis
Risk Metrics
Beta: 0.6408
Alpha: -24.55%
Correlation: 0.4023
R-Squared: 16.2%
Stock Volatility: 20.3%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
BIZD Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
6 filers$24.88M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Caption Management, LLC | $10.06M | 40.46% | 2026-06-30 |
| 2 | Centiva Capital, LP | $9.28M | 37.31% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $3.79M | 15.23% | 2026-06-30 |
| 4 | J. Goldman & Co LP | $1.28M | 5.14% | 2026-06-30 |
| 5 | TUDOR INVESTMENT CORP ET AL | $316.50K | 1.27% | 2026-06-30 |
| 6 | Susquehanna International Group, LLP Custodian | $148.12K | 0.60% | 2026-06-30 |
6 filers$2.74M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $1.67M | 61.07% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $382.33K | 13.96% | 2026-06-30 |
| 3 | Greenland Capital Management LP | $351.95K | 12.85% | 2026-06-30 |
| 4 | Crawford Fund Management, LLC | $253.20K | 9.25% | 2026-06-30 |
| 5 | J. Goldman & Co LP | $60.77K | 2.22% | 2026-06-30 |
| 6 | Centiva Capital, LP | $17.72K | 0.65% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
6.77M
SI % of Float
5.71%
Days to Cover
3.04
Short Vol Ratio
64.5%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-22
BIZD Constituent Performance
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BIZD Constituents (30 of 30)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| ARCC | Ares Capital Corp | 14.19% | $18.68 | -0.56% | -0.19% | -2.68% |
| MAIN | Main Street Capital Corp | 5.41% | $53.74 | -0.66% | -0.16% | -2.46% |
| OBDC | Blue Owl Capital Corp | 5.29% | $10.06 | -1.03% | -0.45% | -6.89% |
| BXSL | Blackstone Secured Lending Fund | 5.26% | $23.71 | -0.82% | -0.61% | -3.83% |
| GBDC | Golub Capital BDC Inc | 2.89% | $12.1 | -0.74% | -0.17% | -2.89% |
| HTGC | Hercules Capital Inc | 2.86% | $16.4 | -0.55% | +0.18% | -3.36% |
| FSK | Fs Kkr Capital Corp | 2.61% | $10.44 | -0.90% | +1.02% | -7.24% |
| OTF | Blue Owl Technology Finance Corp | 2.51% | $9.07 | -0.82% | -0.60% | -11.98% |
| TSLX | Sixth Street Specialty Lending Inc | 2.04% | $17.06 | -1.82% | +0.20% | -5.93% |
| TRIN | Trinity Capital Inc | 1.93% | $16.28 | -0.49% | +1.18% | -7.81% |
| CSWC | Capital Southwest Corp | 1.80% | $22.18 | -0.89% | -3.90% | -4.11% |
| MSDL | Morgan Stanley Direct Lending Fund | 1.30% | $13.18 | -0.57% | +1.11% | -7.80% |
| OCSL | Oaktree Specialty Lending Corp | 1.25% | $11.37 | -0.74% | -1.77% | -6.07% |
| GSBD | Goldman Sachs BDC Inc | 1.14% | $8.55 | -1.78% | -2.00% | -10.32% |
| BBDC | Barings BDC Inc | 0.95% | $8.32 | -0.18% | -1.36% | -3.98% |
| CGBD | Tcg BDC Inc | 0.87% | $10.15 | -1.26% | -2.31% | -9.78% |
| FDUS | Fidus Investment Corp | 0.87% | $18.39 | -1.53% | -3.13% | -3.99% |
| MFIC | Midcap Financial Investment Corp | 0.85% | $8.32 | -1.01% | -0.18% | -6.25% |
| PFLT | Pennantpark Floating Rate Capital Ltd | 0.77% | $6.31 | -1.71% | -3.07% | -9.73% |
| GAIN | Gladstone Investment Corp | 0.74% | $14.67 | -0.71% | -2.52% | -7.21% |
| PSEC | Prospect Capital Corp | 0.72% | $1.49 | +0.01% | -6.87% | -31.96% |
| NMFC | New Mountain Finance Corp | 0.67% | $6.61 | -1.64% | -1.93% | -5.30% |
| BCSF | Bain Capital Specialty Finance Inc | 0.67% | $10.05 | -1.81% | -2.00% | -9.25% |
| MSIF | Msc Income Fund Inc | 0.65% | $11.64 | -0.68% | -0.17% | -4.75% |
| NCDL | Nuveen Churchill Direct Lending Corp | 0.61% | $10.52 | -0.80% | -0.99% | -10.13% |
| SLRC | Slr Investment Corp | 0.58% | $11.12 | -1.29% | -2.33% | -5.32% |
| GLAD | Gladstone Capital Corp | 0.52% | $18.27 | -1.77% | -3.23% | -5.63% |
| KBDC | Kayne Anderson BDC Inc | 0.51% | $12.7 | -0.55% | +2.17% | -2.61% |
| TCPC | Blackrock Tcp Capital Corp | 0.43% | $3.94 | -4.14% | -5.29% | -1.75% |
| CION | Cion Investment Corp | 0.39% | $6.43 | -1.76% | -2.35% | -10.13% |