Next Frontier Internet ETF (NYSEARCA:FMQQ) Stock Price Down 2.5% – Should You Sell?

Shares of Next Frontier Internet ETF (NYSEARCA:FMQQ) dropped 2.5% on Wednesday . The company traded as low as $11.27 and last traded at $11.27. Approximately 5,790 shares changed hands during trading, a decline of 25% from the average daily volume of 7,728 shares. The stock had previously closed at $11.56.

Next Frontier Internet ETF Stock Performance

The firm has a market capitalization of $20.52 million, a price-to-earnings ratio of 21.89 and a beta of 1.08. The business has a fifty day moving average of $11.64 and a two-hundred day moving average of $12.70.

Hedge Funds Weigh In On Next Frontier Internet ETF

A hedge fund recently raised its stake in Next Frontier Internet ETF stock. Jane Street Group LLC raised its holdings in Next Frontier Internet ETF (NYSEARCA:FMQQ) by 132.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,503 shares of the company’s stock after purchasing an additional 26,482 shares during the period. Jane Street Group LLC owned approximately 2.18% of Next Frontier Internet ETF worth $586,000 at the end of the most recent quarter.

About Next Frontier Internet ETF

The FMQQ Next Frontier Internet & Ecommerce ETF (FMQQ) is an exchange-traded fund that is based on the FMQQ index. The fund is a passively managed fund that invests in internet and e-commerce companies from emerging and frontier markets. FMQQ was launched on Sep 28, 2021 and is managed by FMQQ.