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

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

Hedge Funds Weigh In On Fidelity Metaverse ETF

Several large investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings 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 during the last quarter. Envestnet Asset Management Inc. increased its holdings in Fidelity Metaverse ETF by 11.5% in the third quarter. Envestnet Asset Management Inc. now owns 7,426 shares of the company’s stock valued at $281,000 after purchasing an additional 765 shares during the last quarter. High Point Wealth Management LLC bought a new stake in Fidelity Metaverse ETF in the fourth quarter valued at about $288,000. Finally, Jane Street Group LLC increased its holdings in Fidelity Metaverse ETF by 28.4% in the fourth quarter. Jane Street Group LLC now owns 9,557 shares of the company’s stock valued at $345,000 after purchasing an additional 2,113 shares during the last quarter.

Fidelity Metaverse ETF Trading Up 0.6%

Shares of FMET traded up $0.25 during trading hours on Thursday, hitting $38.94. 1,433 shares of the stock traded hands, compared to its average volume of 4,695. Fidelity Metaverse ETF has a 1-year low of $30.14 and a 1-year high of $39.44. The firm has a market capitalization of $50.62 million, a PE ratio of 23.47 and a beta of 1.18. The business has a fifty day moving average of $34.82 and a 200-day moving average of $35.10.

Fidelity Metaverse ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Friday, March 20th were paid a dividend of $0.056 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.6%. This is a boost from Fidelity Metaverse ETF’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Friday, March 20th.

About Fidelity Metaverse ETF

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.