Fidelity Metaverse ETF (NASDAQ:FMET) Share Price Breaks Above 50-Day Moving Average – What’s Next?

Shares of Fidelity Metaverse ETF (NASDAQ:FMET) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $38.58 and traded as high as $38.84. Fidelity Metaverse ETF shares last traded at $38.63, with a volume of 12,091 shares trading hands.

Fidelity Metaverse ETF Price Performance

The business has a 50-day moving average of $38.58 and a two-hundred day moving average of $36.59. The company has a market cap of $42.30 million, a P/E ratio of 20.30 and a beta of 1.21.

Fidelity Metaverse ETF Increases Dividend

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

Institutional Trading of Fidelity Metaverse ETF

A number of institutional investors have recently modified their holdings of the company. Citadel Advisors LLC grew its holdings in Fidelity Metaverse ETF by 47.3% in the second 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 last quarter. Community Bank & Trust Waco Texas purchased a new stake in shares of Fidelity Metaverse ETF during the second quarter worth about $197,000. Nwam LLC purchased a new stake in shares of Fidelity Metaverse ETF during the second quarter worth about $188,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Fidelity Metaverse ETF during the second quarter worth about $121,000.

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.