Fidelity Metaverse ETF (NASDAQ:FMET) Stock Short Interest Drops 48.5%

Fidelity Metaverse ETF (NASDAQ:FMET) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 119 shares, a drop of 48.5% from the August 31st total of 231 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,320 shares, the days-to-cover ratio is currently 0.1 days.

Fidelity Metaverse ETF Stock Up 0.6%

NASDAQ:FMET traded up $0.22 during trading hours on Wednesday, reaching $38.79. The company had a trading volume of 2,006 shares, compared to its average volume of 4,131. The stock has a 50-day moving average of $38.42 and a two-hundred day moving average of $36.79. Fidelity Metaverse ETF has a one year low of $30.14 and a one year high of $40.25. The firm has a market capitalization of $42.67 million, a PE ratio of 23.47 and a beta of 1.21.

Fidelity Metaverse ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, September 18th were paid a $0.1080 dividend. The ex-dividend date was Friday, September 18th. This represents a $0.43 annualized dividend and a dividend yield of 1.1%. This is a boost from Fidelity Metaverse ETF’s previous quarterly dividend of $0.0670.

Institutional Investors Weigh In On Fidelity Metaverse ETF

A number of hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC lifted its holdings in Fidelity Metaverse ETF by 47.3% during the 2nd quarter. Citadel Advisors LLC now owns 68,382 shares of the company’s stock valued at $2,516,000 after purchasing an additional 21,950 shares during the last quarter. Community Bank & Trust Waco Texas acquired a new stake in shares of Fidelity Metaverse ETF during the second quarter worth approximately $197,000. Nwam LLC acquired a new stake in shares of Fidelity Metaverse ETF during the second quarter worth approximately $188,000. Finally, Trust Co. of Vermont bought a new position in shares of Fidelity Metaverse ETF in the second quarter valued at approximately $121,000.

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.