Roundhill Meme Stock ETF (NYSEARCA:MEME) Sees Significant Growth in Short Interest

Roundhill Meme Stock ETF (NYSEARCA:MEME) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 182,020 shares, an increase of 246.7% from the July 15th total of 52,508 shares. Based on an average daily volume of 260,292 shares, the days-to-cover ratio is presently 0.7 days. Approximately 10.3% of the shares of the company are short sold.

Roundhill Meme Stock ETF Price Performance

Shares of NYSEARCA MEME traded up $0.26 during mid-day trading on Friday, reaching $8.70. 199,493 shares of the company’s stock were exchanged, compared to its average volume of 216,135. The firm has a market capitalization of $15.40 million, a price-to-earnings ratio of -184.09 and a beta of -7.52. Roundhill Meme Stock ETF has a 52 week low of $5.33 and a 52 week high of $11.91. The firm has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $8.14.

Institutional Trading of Roundhill Meme Stock ETF

Several hedge funds have recently added to or reduced their stakes in MEME. Goldman Sachs Group Inc. bought a new position in shares of Roundhill Meme Stock ETF during the 4th quarter valued at approximately $757,000. Simplex Trading LLC bought a new stake in shares of Roundhill Meme Stock ETF in the 4th quarter worth approximately $60,000. Finally, Group One Trading LLC purchased a new position in Roundhill Meme Stock ETF in the fourth quarter valued at approximately $39,000. Institutional investors own 29.90% of the company’s stock.

About Roundhill Meme Stock ETF

The Roundhill MEME ETF (MEME) is an exchange-traded fund that is based on the Solactive Roundhill Meme Stock index. The fund tracks an equal-weighted index of 25 US-listed stocks selected baesd on a high social media activity score and high short interest percentage. MEME was launched on Dec 8, 2021 and is managed by Roundhill.