Fidelity Metaverse ETF (NASDAQ:FMET) Shares Up 2% – Time to Buy?

Fidelity Metaverse ETF (NASDAQ:FMET)’s stock price was up 2% during trading on Thursday . The company traded as high as $35.12 and last traded at $35.12. Approximately 6,643 shares were traded during trading, an increase of 30% from the average daily volume of 5,124 shares. The stock had previously closed at $34.42.

Fidelity Metaverse ETF Trading Up 2.0%

The stock has a market capitalization of $45.66 million, a price-to-earnings ratio of 23.47 and a beta of 1.14. The stock has a 50-day moving average price of $32.74 and a 200 day moving average price of $35.30.

Fidelity Metaverse ETF Increases Dividend

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

Institutional Investors Weigh In On Fidelity Metaverse ETF

Several institutional investors have recently bought and sold shares of FMET. High Point Wealth Management LLC acquired a new stake in Fidelity Metaverse ETF in the 4th quarter worth about $288,000. Osaic Holdings Inc. boosted its holdings in 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 buying an additional 2,837 shares during the last quarter. Jane Street Group LLC boosted its holdings in Fidelity Metaverse ETF by 28.4% in the 4th quarter. Jane Street Group LLC now owns 9,557 shares of the company’s stock worth $345,000 after buying an additional 2,113 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in 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 buying an additional 765 shares during the last 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.