Fidelity Metaverse ETF (NASDAQ:FMET) Stock Price Down 0.5% – What’s Next?

Fidelity Metaverse ETF (NASDAQ:FMET) shares were down 0.5% on Tuesday . The stock traded as low as $36.96 and last traded at $37.03. Approximately 12,546 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 7,310 shares. The stock had previously closed at $37.20.

Fidelity Metaverse ETF Stock Down 0.5%

The stock’s 50-day moving average is $37.61 and its 200-day moving average is $34.61. The firm has a market cap of $48.14 million, a P/E ratio of 23.47 and a beta of 1.13.

Fidelity Metaverse ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 19th were given a $0.027 dividend. This represents a $0.11 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, September 19th.

Institutional Investors Weigh In On Fidelity Metaverse ETF

A hedge fund recently raised its stake in Fidelity Metaverse ETF stock. Envestnet Asset Management Inc. lifted its stake in Fidelity Metaverse ETF (NASDAQ:FMET) by 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,426 shares of the company’s stock after buying an additional 765 shares during the period. Envestnet Asset Management Inc. owned about 0.57% of Fidelity Metaverse ETF worth $281,000 at the end of the most recent reporting period.

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.