Fidelity Metaverse ETF (NASDAQ:FMET) Shares Up 2% – Here’s What Happened

Shares of Fidelity Metaverse ETF (NASDAQ:FMET) shot up 2% during mid-day trading on Thursday . The company traded as high as $35.12 and last traded at $35.12. 6,643 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 5,124 shares. The stock had previously closed at $34.42.

Fidelity Metaverse ETF Stock Performance

The company has a market cap of $46.27 million, a price-to-earnings ratio of 23.47 and a beta of 1.14. The business’s 50 day moving average price is $32.77 and its 200-day moving average price is $35.29.

Fidelity Metaverse ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Friday, March 20th were paid a $0.056 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Fidelity Metaverse ETF’s previous quarterly dividend of $0.04.

Hedge Funds Weigh In On Fidelity Metaverse ETF

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its stake in shares of Fidelity Metaverse ETF by 28.4% in the 4th quarter. Jane Street Group LLC now owns 9,557 shares of the company’s stock valued at $345,000 after buying an additional 2,113 shares in the last quarter. High Point Wealth Management LLC bought a new stake in shares of Fidelity Metaverse ETF in the 4th quarter worth about $288,000. Envestnet Asset Management Inc. grew its holdings in shares of Fidelity Metaverse ETF by 11.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,426 shares of the company’s stock worth $281,000 after purchasing an additional 765 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Fidelity Metaverse ETF by 252.9% in the 4th quarter. Osaic Holdings Inc. now owns 3,959 shares of the company’s stock worth $143,000 after purchasing an additional 2,837 shares during the last quarter.

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.