Fidelity Metaverse ETF (NASDAQ:FMET) Stock Breaks Below 200 Day Moving Average – What’s Next?

Shares of Fidelity Metaverse ETF (NASDAQ:FMET) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $36.52 and traded as low as $36.24. Fidelity Metaverse ETF shares last traded at $36.28, with a volume of 17,083 shares.

Fidelity Metaverse ETF Trading Down 1.1%

The business has a 50 day moving average of $38.73 and a two-hundred day moving average of $36.52. The firm has a market cap of $39.91 million, a P/E ratio of 23.47 and a beta of 1.20.

Fidelity Metaverse ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 18th were issued a $0.1080 dividend. This is an increase from Fidelity Metaverse ETF’s previous quarterly dividend of $0.0670. This represents a $0.43 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, September 18th.

Hedge Funds Weigh In On Fidelity Metaverse ETF

Several large investors have recently modified their holdings of FMET. Trust Co. of Vermont bought a new stake in shares of Fidelity Metaverse ETF during the 2nd quarter worth about $121,000. Nwam LLC acquired a new position in Fidelity Metaverse ETF in the 2nd quarter valued at about $188,000. Community Bank & Trust Waco Texas bought a new position in Fidelity Metaverse ETF in the 2nd quarter valued at about $197,000. Finally, 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 valued at $2,516,000 after acquiring an additional 21,950 shares during the period.

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.