Short Interest in First Trust Indxx Metaverse ETF (NASDAQ:ARVR) Drops By 70.9%

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 240 shares, a decline of 70.9% from the April 30th total of 824 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 808 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Indxx Metaverse ETF Stock Performance

Shares of ARVR stock opened at $57.12 on Friday. The stock has a fifty day moving average price of $49.81 and a 200 day moving average price of $48.87. The stock has a market cap of $5.71 million, a PE ratio of 29.06 and a beta of 1.23. First Trust Indxx Metaverse ETF has a 1 year low of $42.42 and a 1 year high of $57.12.

Hedge Funds Weigh In On First Trust Indxx Metaverse ETF

An institutional investor recently raised its position in First Trust Indxx Metaverse ETF stock. Jane Street Group LLC grew its stake in shares of First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 34.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,814 shares of the company’s stock after buying an additional 3,758 shares during the period. Jane Street Group LLC owned 29.63% of First Trust Indxx Metaverse ETF worth $564,000 at the end of the most recent reporting period.

First Trust Indxx Metaverse ETF Company Profile

The First Trust Indxx Metaverse ETF (ARVR) is an exchange-traded fund that is based on the Indxx Metaverse index. The fund tracks a modified equal-weighted index of stocks, spanning a broad range of industries globally, that are involved in business activities associated with the Metaverse. ARVR was launched on Apr 19, 2022 and is managed by First Trust.