Short Interest in Roundhill Meme Stock ETF (NYSEARCA:MEME) Declines By 53.0%

Roundhill Meme Stock ETF (NYSEARCA:MEME) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 215,432 shares, a decline of 53.0% from the May 14th total of 458,088 shares. Approximately 10.5% of the company’s shares are sold short. Based on an average trading volume of 322,498 shares, the days-to-cover ratio is presently 0.7 days.

Roundhill Meme Stock ETF Stock Performance

Shares of MEME traded up $0.65 during midday trading on Monday, hitting $10.43. The company had a trading volume of 272,457 shares, compared to its average volume of 233,145. The company’s 50-day simple moving average is $9.38 and its 200-day simple moving average is $7.76. The firm has a market capitalization of $21.38 million, a P/E ratio of -220.69 and a beta of 5.98. Roundhill Meme Stock ETF has a 1 year low of $5.33 and a 1 year high of $11.91.

Hedge Funds Weigh In On Roundhill Meme Stock ETF

Several hedge funds and other institutional investors have recently made changes to their positions in MEME. Group One Trading LLC purchased a new position in shares of Roundhill Meme Stock ETF in the 4th quarter valued at about $39,000. Simplex Trading LLC purchased a new position in shares of Roundhill Meme Stock ETF in the 4th quarter valued at about $60,000. Goldman Sachs Group Inc. purchased a new position in shares of Roundhill Meme Stock ETF in the 4th quarter valued at about $757,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Roundhill Meme Stock ETF in the 4th quarter valued at about $4,243,000. Hedge funds and other institutional investors own 29.90% of the company’s stock.

About Roundhill Meme Stock ETF

The Roundhill MEME ETF (MEME) is an exchange-traded fund that is based on the Solactive Roundhill Meme Stock index. The fund tracks an equal-weighted index of 25 US-listed stocks selected baesd on a high social media activity score and high short interest percentage. MEME was launched on Dec 8, 2021 and is managed by Roundhill.