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

Roundhill Meme Stock ETF (NYSEARCA:MEME) shares were up 2% during mid-day trading on Tuesday . The company traded as high as $7.80 and last traded at $7.79. 45,433 shares changed hands 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 Performance

The stock has a market cap of $14.94 million, a P/E ratio of -178.59 and a beta of -7.52. The company’s 50 day moving average price is $8.50 and its 200-day moving average price is $8.13.

Institutional Investors Weigh In On Roundhill Meme Stock ETF

Institutional investors have recently added to or reduced their stakes in the company. Group One Trading LLC bought a new position in shares of Roundhill Meme Stock ETF in the fourth quarter valued at approximately $39,000. Simplex Trading LLC purchased a new position in shares of Roundhill Meme Stock ETF in the 4th quarter worth about $60,000. Finally, Goldman Sachs Group Inc. bought a new position in Roundhill Meme Stock ETF during the fourth quarter valued at about $757,000. 29.90% of the stock is owned by institutional investors.

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.