First Trust Indxx Metaverse ETF (NASDAQ:ARVR) Sees Significant Decrease in Short Interest

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 240 shares, a drop of 70.9% from the April 30th total of 824 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 808 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Trust Indxx Metaverse ETF stock. Jane Street Group LLC raised its stake in shares of First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 34.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,814 shares of the company’s stock after purchasing an additional 3,758 shares during the period. Jane Street Group LLC owned 29.63% of First Trust Indxx Metaverse ETF worth $564,000 at the end of the most recent quarter.

First Trust Indxx Metaverse ETF Trading Up 0.3%

NASDAQ:ARVR traded up $0.19 during trading hours on Friday, hitting $57.12. 93 shares of the company were exchanged, compared to its average volume of 310. The stock has a market capitalization of $5.71 million, a price-to-earnings ratio of 29.06 and a beta of 1.23. First Trust Indxx Metaverse ETF has a one year low of $42.42 and a one year high of $57.12. The company has a fifty day simple moving average of $49.81 and a 200 day simple moving average of $48.87.

About First Trust Indxx Metaverse ETF

The First Trust Indxx Metaverse ETF (ARVR) is an exchange-traded fund that is based on the Indxx Metaverse index. The fund tracks a modified equal-weighted index of stocks, spanning a broad range of industries globally, that are involved in business activities associated with the Metaverse. ARVR was launched on Apr 19, 2022 and is managed by First Trust.