Fidelity Metaverse ETF (NASDAQ:FMET) Stock Price Down 0.5% – Time to Sell?

Fidelity Metaverse ETF (NASDAQ:FMET)’s stock price was down 0.5% during trading on Tuesday . The company traded as low as $36.96 and last traded at $37.03. Approximately 12,546 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 7,310 shares. The stock had previously closed at $37.20.

Fidelity Metaverse ETF Price Performance

The stock’s 50 day moving average price is $37.61 and its two-hundred day moving average price is $34.61. The firm has a market capitalization of $48.14 million, a price-to-earnings ratio of 23.47 and a beta of 1.13.

Fidelity Metaverse ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 19th were given a dividend of $0.027 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.11 dividend on an annualized basis and a yield of 0.3%.

Institutional Investors Weigh In On Fidelity Metaverse ETF

A hedge fund recently raised its stake in Fidelity Metaverse ETF stock. Envestnet Asset Management Inc. increased its holdings in shares of Fidelity Metaverse ETF (NASDAQ:FMET) by 11.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,426 shares of the company’s stock after purchasing an additional 765 shares during the period. Envestnet Asset Management Inc. owned approximately 0.57% of Fidelity Metaverse ETF worth $281,000 at the end of the most recent reporting period.

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.