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

Fidelity Metaverse ETF (NASDAQ:FMET) saw a large drop in short interest in 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. Based on an average daily trading volume, of 1,320 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Fidelity Metaverse ETF Stock Performance

Shares of NASDAQ FMET traded down $0.05 during midday trading on Thursday, hitting $38.74. 161 shares of the stock traded hands, compared to its average volume of 4,110. The firm has a 50-day moving average of $38.42 and a two-hundred day moving average of $36.79. The firm has a market capitalization of $42.61 million, a P/E ratio of 23.47 and a beta of 1.21. Fidelity Metaverse ETF has a one year low of $30.14 and a one year high of $40.25.

Fidelity Metaverse ETF Increases Dividend

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

Institutional Investors Weigh In On Fidelity Metaverse ETF

A number of hedge funds have recently modified their holdings of FMET. Citadel Advisors LLC raised its holdings in Fidelity Metaverse ETF by 47.3% in the 2nd quarter. Citadel Advisors LLC now owns 68,382 shares of the company’s stock worth $2,516,000 after purchasing an additional 21,950 shares during the period. Community Bank & Trust Waco Texas purchased a new stake in Fidelity Metaverse ETF in the second quarter worth about $197,000. Nwam LLC purchased a new stake in Fidelity Metaverse ETF in the second quarter worth about $188,000. Finally, Trust Co. of Vermont bought a new position in shares of Fidelity Metaverse ETF in the second quarter worth about $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.