Short Interest in First Trust Indxx Metaverse ETF (NASDAQ:ARVR) Expands By 312.1%

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 989 shares, an increase of 312.1% from the May 14th total of 240 shares. Based on an average daily volume of 664 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.0% of the shares of the company are short sold.

First Trust Indxx Metaverse ETF Price Performance

Shares of NASDAQ:ARVR remained flat at $53.64 during trading on Thursday. The stock had a trading volume of 1,063 shares, compared to its average volume of 352. The company has a market cap of $5.36 million, a price-to-earnings ratio of 29.06 and a beta of 1.24. The firm’s fifty day moving average price is $51.76 and its two-hundred day moving average price is $49.28. First Trust Indxx Metaverse ETF has a 1-year low of $42.61 and a 1-year high of $58.55.

Institutional Investors Weigh In On First Trust Indxx Metaverse ETF

A hedge fund recently raised its stake in First Trust Indxx Metaverse ETF stock. Jane Street Group LLC increased its stake in First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 34.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,814 shares of the company’s stock after acquiring an additional 3,758 shares during the period. 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.