Fidelity Metaverse ETF (NASDAQ:FMET) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Fidelity Metaverse ETF (NASDAQ:FMET) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $38.58 and traded as high as $38.84. Fidelity Metaverse ETF shares last traded at $38.63, with a volume of 12,091 shares trading hands.

Fidelity Metaverse ETF Stock Up 2.2%

The firm’s 50-day moving average price is $38.58 and its 200 day moving average price is $36.57. The firm has a market cap of $42.49 million, a P/E ratio of 20.30 and a beta of 1.21.

Fidelity Metaverse ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 18th were paid a dividend of $0.1080 per share. This represents a $0.43 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 18th. This is a positive change from Fidelity Metaverse ETF’s previous quarterly dividend of $0.0670.

Hedge Funds Weigh In On Fidelity Metaverse ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMET. Citadel Advisors LLC raised its stake in Fidelity Metaverse ETF by 47.3% during the 2nd quarter. Citadel Advisors LLC now owns 68,382 shares of the company’s stock valued at $2,516,000 after acquiring an additional 21,950 shares in the last quarter. Community Bank & Trust Waco Texas acquired a new position in Fidelity Metaverse ETF during the 2nd quarter valued at about $197,000. Nwam LLC acquired a new position in Fidelity Metaverse ETF during the 2nd quarter valued at about $188,000. Finally, Trust Co. of Vermont acquired a new position in Fidelity Metaverse ETF during the 2nd quarter valued at about $121,000.

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.