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

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) was the recipient of a large 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. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 565 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Trust Indxx Metaverse ETF stock. Envestnet Asset Management Inc. increased its stake in shares of First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 24.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,268 shares of the company’s stock after purchasing an additional 4,502 shares during the period. Envestnet Asset Management Inc. owned approximately 15.51% of First Trust Indxx Metaverse ETF worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

First Trust Indxx Metaverse ETF Stock Performance

ARVR traded up $0.75 on Friday, hitting $58.90. 473 shares of the company were exchanged, compared to its average volume of 383. The stock has a market capitalization of $8.84 million, a PE ratio of 29.06 and a beta of 1.24. First Trust Indxx Metaverse ETF has a 12 month low of $42.61 and a 12 month high of $59.25. The firm has a fifty day simple moving average of $57.27 and a two-hundred day simple moving average of $54.29.

About First Trust Indxx Metaverse ETF

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.