Roundhill Meme Stock ETF (NYSEARCA:MEME) Trading 2% Higher – Should You Buy?

Shares of Roundhill Meme Stock ETF (NYSEARCA:MEME) rose 2% on Tuesday . The company traded as high as $7.80 and last traded at $7.79. 45,433 shares were traded during trading, a decline of 79% from the average session volume of 216,728 shares. The stock had previously closed at $7.64.

Roundhill Meme Stock ETF Stock Up 2.0%

The firm has a 50-day moving average of $8.55 and a two-hundred day moving average of $8.13. The stock has a market capitalization of $13.79 million, a price-to-earnings ratio of -164.83 and a beta of -7.12.

Hedge Funds Weigh In On Roundhill Meme Stock ETF

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of Roundhill Meme Stock ETF in the fourth quarter worth approximately $757,000. Simplex Trading LLC purchased a new position in Roundhill Meme Stock ETF during the fourth quarter valued at approximately $60,000. Finally, Group One Trading LLC acquired a new position in Roundhill Meme Stock ETF in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 29.90% of the company’s stock.

Roundhill Meme Stock ETF Company Profile

The Roundhill MEME ETF (MEME) is an exchange-traded fund that is based on the Solactive Roundhill Meme Stock index. The fund tracks an equal-weighted index of 25 US-listed stocks selected baesd on a high social media activity score and high short interest percentage. MEME was launched on Dec 8, 2021 and is managed by Roundhill.