Fidelity Metaverse ETF (NASDAQ:FMET) Stock Breaks Below 200 Day Moving Average – What’s Next?

Fidelity Metaverse ETF (NASDAQ:FMET)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $36.52 and traded as low as $36.24. Fidelity Metaverse ETF shares last traded at $36.28, with a volume of 17,083 shares trading hands.

Fidelity Metaverse ETF Price Performance

The firm has a market cap of $39.91 million, a price-to-earnings ratio of 23.47 and a beta of 1.20. The stock has a 50-day moving average of $38.73 and a 200-day moving average of $36.52.

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 issued a $0.1080 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.43 annualized dividend and a yield of 1.2%. This is an increase from Fidelity Metaverse ETF’s previous quarterly dividend of $0.0670.

Hedge Funds Weigh In On Fidelity Metaverse ETF

A number of institutional investors have recently modified their holdings of the business. Trust Co. of Vermont bought a new stake in shares of Fidelity Metaverse ETF during the 2nd quarter worth $121,000. Nwam LLC acquired a new stake in Fidelity Metaverse ETF in the second quarter valued at about $188,000. Community Bank & Trust Waco Texas acquired a new stake in Fidelity Metaverse ETF in the second quarter valued at about $197,000. Finally, Citadel Advisors LLC grew its position in Fidelity Metaverse ETF by 47.3% in the second 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 during the last quarter.

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.