First Trust Indxx Metaverse ETF (NASDAQ:ARVR) Sees Significant Decrease in Short Interest

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 173 shares, a decrease of 96.9% from the September 15th total of 5,571 shares. Based on an average daily trading volume, of 565 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Indxx Metaverse ETF Stock Up 1.3%

NASDAQ:ARVR traded up $0.75 during mid-day trading on Friday, hitting $58.90. 473 shares of the company traded hands, compared to its average volume of 383. The stock’s fifty day moving average price is $57.27 and its 200-day moving average price is $54.29. First Trust Indxx Metaverse ETF has a one year low of $42.61 and a one year high of $59.25. The firm has a market cap of $8.84 million, a price-to-earnings ratio of 29.06 and a beta of 1.24.

Hedge Funds Weigh In On First Trust Indxx Metaverse ETF

An institutional investor recently raised its stake in First Trust Indxx Metaverse ETF stock. Envestnet Asset Management Inc. lifted its position in First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,268 shares of the company’s stock after purchasing an additional 4,502 shares during the period. Envestnet Asset Management Inc. owned about 15.51% of First Trust Indxx Metaverse ETF worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.