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

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 100 shares, a decrease of 50.0% from the August 31st total of 200 shares. Based on an average daily trading volume, of 100 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 100 shares, the days-to-cover ratio is currently 1.0 days.

First Trust Indxx Metaverse ETF Price Performance

Shares of ARVR stock opened at $51.23 on Friday. The company has a market cap of $2.56 million, a price-to-earnings ratio of 29.06 and a beta of -1.30. The stock has a 50 day simple moving average of $48.42 and a 200-day simple moving average of $44.25. First Trust Indxx Metaverse ETF has a 1-year low of $33.09 and a 1-year high of $51.44.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Trust Indxx Metaverse ETF stock. Jane Street Group LLC lifted its holdings 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 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,814 shares of the company’s stock after buying an additional 3,758 shares during the quarter. Jane Street Group LLC owned approximately 29.63% of First Trust Indxx Metaverse ETF worth $564,000 as of its most recent SEC filing.

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.