Short Interest in Roundhill Meme Stock ETF (NYSEARCA:MEME) Drops By 53.0%

Roundhill Meme Stock ETF (NYSEARCA:MEME) was the target of a large decline in short interest in May. As of May 29th, there was short interest totaling 215,432 shares, a decline of 53.0% from the May 14th total of 458,088 shares. Based on an average daily volume of 322,498 shares, the days-to-cover ratio is currently 0.7 days. Currently, 10.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC acquired a new position in Roundhill Meme Stock ETF in the fourth quarter worth approximately $39,000. Simplex Trading LLC purchased a new position in Roundhill Meme Stock ETF during the 4th quarter worth approximately $60,000. Goldman Sachs Group Inc. purchased a new position in Roundhill Meme Stock ETF during the 4th quarter worth approximately $757,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Roundhill Meme Stock ETF during the 4th quarter valued at $4,243,000. Institutional investors and hedge funds own 29.90% of the company’s stock.

Roundhill Meme Stock ETF Trading Down 4.0%

MEME stock traded down $0.41 on Friday, hitting $9.78. 224,297 shares of the company’s stock traded hands, compared to its average volume of 232,789. The stock has a market cap of $20.05 million, a price-to-earnings ratio of -206.94 and a beta of 5.89. Roundhill Meme Stock ETF has a 1-year low of $5.33 and a 1-year high of $11.91. The stock has a fifty day moving average of $9.31 and a 200-day moving average of $7.72.

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.