Fidelity Metaverse ETF (NASDAQ:FMET) Trading Up 1.5% – Here’s What Happened

Fidelity Metaverse ETF (NASDAQ:FMET) shares traded up 1.5% during trading on Friday . The company traded as high as $38.42 and last traded at $38.42. 1,763 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 4,773 shares. The stock had previously closed at $37.84.

Fidelity Metaverse ETF Stock Performance

The stock has a market capitalization of $49.95 million, a P/E ratio of 23.47 and a beta of 1.18. The stock has a 50-day simple moving average of $33.41 and a 200 day simple moving average of $35.12.

Fidelity Metaverse ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Friday, March 20th were paid a $0.056 dividend. The ex-dividend date of this dividend was Friday, March 20th. This is a boost from Fidelity Metaverse ETF’s previous quarterly dividend of $0.04. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%.

Hedge Funds Weigh In On Fidelity Metaverse ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in Fidelity Metaverse ETF by 252.9% in the fourth quarter. Osaic Holdings Inc. now owns 3,959 shares of the company’s stock valued at $143,000 after acquiring an additional 2,837 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Fidelity Metaverse ETF by 11.5% in the third quarter. Envestnet Asset Management Inc. now owns 7,426 shares of the company’s stock valued at $281,000 after acquiring an additional 765 shares during the last quarter. High Point Wealth Management LLC bought a new position in Fidelity Metaverse ETF in the fourth quarter valued at approximately $288,000. Finally, Jane Street Group LLC boosted its stake in Fidelity Metaverse ETF by 28.4% in the fourth quarter. Jane Street Group LLC now owns 9,557 shares of the company’s stock valued at $345,000 after acquiring an additional 2,113 shares during the last quarter.

Fidelity Metaverse ETF Company Profile

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.