Fidelity Metaverse ETF (NASDAQ:FMET) Short Interest Up 641.3% in May

Fidelity Metaverse ETF (NASDAQ:FMET) was the target of a significant growth in short interest during 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 daily volume of 3,755 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Fidelity Metaverse ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMET. Osaic Holdings Inc. lifted its stake in shares of Fidelity Metaverse ETF by 252.9% in the 4th 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. raised its holdings in Fidelity Metaverse ETF by 11.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,426 shares of the company’s stock valued at $281,000 after buying an additional 765 shares during the period. High Point Wealth Management LLC purchased a new stake in Fidelity Metaverse ETF during the 4th quarter valued at $288,000. Finally, Jane Street Group LLC lifted its position 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 worth $345,000 after buying an additional 2,113 shares during the last quarter.

Fidelity Metaverse ETF Price Performance

Shares of Fidelity Metaverse ETF stock traded up $0.18 during trading hours on Friday, reaching $39.60. The company’s stock had a trading volume of 7,923 shares, compared to its average volume of 4,759. The firm has a 50 day moving average price of $35.11 and a 200-day moving average price of $35.15. The stock has a market cap of $51.48 million, a P/E ratio of 23.47 and a beta of 1.18. Fidelity Metaverse ETF has a one year low of $30.14 and a one year high of $39.81.

Fidelity Metaverse ETF Increases Dividend

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

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.