Fidelity Metaverse ETF (NASDAQ:FMET) Shares Down 0.5% – What’s Next?

Shares of Fidelity Metaverse ETF (NASDAQ:FMET) dropped 0.5% on Tuesday . The stock traded as low as $36.96 and last traded at $37.03. Approximately 12,546 shares traded hands 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 Stock Down 0.5%

The firm’s fifty day moving average price is $37.61 and its 200 day moving average price is $34.61. The stock has a market cap of $48.14 million, a PE ratio of 23.47 and a beta of 1.13.

Fidelity Metaverse ETF Cuts Dividend

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

Institutional Trading of Fidelity Metaverse ETF

An institutional investor recently raised its position in Fidelity Metaverse ETF stock. Envestnet Asset Management Inc. lifted its holdings in Fidelity Metaverse ETF (NASDAQ:FMET) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,426 shares of the company’s stock after buying an additional 765 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.57% of Fidelity Metaverse ETF worth $281,000 at the end of the most recent quarter.

About Fidelity Metaverse ETF

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.