Short Interest in Fidelity Metaverse ETF (NASDAQ:FMET) Grows By 641.3%

Fidelity Metaverse ETF (NASDAQ:FMET) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 2,350 shares, an increase of 641.3% from the April 30th total of 317 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 3,755 shares, the days-to-cover ratio is presently 0.6 days.

Fidelity Metaverse ETF Price Performance

FMET stock traded up $0.25 during mid-day trading on Thursday, reaching $38.94. The company had a trading volume of 1,433 shares, compared to its average volume of 4,695. The stock has a 50 day simple moving average of $34.82 and a two-hundred day simple moving average of $35.10. The company has a market capitalization of $50.62 million, a price-to-earnings ratio of 23.47 and a beta of 1.18. Fidelity Metaverse ETF has a 52 week low of $30.14 and a 52 week high of $39.44.

Fidelity Metaverse ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Friday, March 20th were paid a $0.056 dividend. This is a positive change from Fidelity Metaverse ETF’s previous quarterly dividend of $0.04. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, March 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FMET. Osaic Holdings Inc. grew its stake in Fidelity Metaverse ETF by 252.9% in the fourth quarter. Osaic Holdings Inc. now owns 3,959 shares of the company’s stock valued at $143,000 after purchasing an additional 2,837 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Fidelity Metaverse ETF by 11.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,426 shares of the company’s stock worth $281,000 after acquiring an additional 765 shares during the period. High Point Wealth Management LLC bought a new position in shares of Fidelity Metaverse ETF during the 4th quarter worth approximately $288,000. Finally, Jane Street Group LLC boosted its stake in shares of Fidelity Metaverse ETF by 28.4% during the 4th quarter. Jane Street Group LLC now owns 9,557 shares of the company’s stock worth $345,000 after acquiring an additional 2,113 shares during the period.

Fidelity Metaverse ETF Company Profile

The Fidelity Metaverse ETF (FMET) is an exchange-traded fund that is based on the Fidelity Metaverse index. The fund tracks a market cap-weighted index of equities that provides global exposure to the future state of the internet: the metaverse. FMET was launched on Apr 19, 2022 and is managed by Fidelity.