Roundhill Meme Stock ETF (NYSEARCA:MEME) Stock Price Down 13.3% – Should You Sell?

Roundhill Meme Stock ETF (NYSEARCA:MEME) shares traded down 13.3% on Thursday. The stock traded as low as $5.00 and last traded at $5.15. Approximately 99,975 shares changed hands during trading, a decline of 44% from the average daily volume of 177,157 shares. The stock had previously closed at $5.94.

Roundhill Meme Stock ETF Stock Down 13.3%

The firm has a market cap of $8.91 million, a P/E ratio of -108.97 and a beta of 4.64. The business’s 50 day moving average is $7.70 and its two-hundred day moving average is $8.01.

Institutional Trading of Roundhill Meme Stock ETF

Large investors have recently bought and sold shares of the business. Requisite Capital Management LLC bought a new position in shares of Roundhill Meme Stock ETF in the 2nd quarter worth about $181,000. Rinkey Investments acquired a new position in shares of Roundhill Meme Stock ETF in the 2nd quarter valued at about $123,000. Proficio Capital Partners LLC acquired a new position in shares of Roundhill Meme Stock ETF in the 2nd quarter valued at about $8,735,000. Nwam LLC acquired a new position in shares of Roundhill Meme Stock ETF in the 2nd quarter valued at about $163,000. Finally, Montanova Capital LLC acquired a new position in shares of Roundhill Meme Stock ETF in the 2nd quarter valued at about $26,755,000. 29.90% of the stock is currently owned by institutional investors and hedge funds.

Roundhill Meme Stock ETF Company Profile

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.