First Trust Indxx Metaverse ETF (NASDAQ:ARVR) Stock Short Interest Rises 155.8%

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) saw a significant increase in short interest in September. As of September 15th, there was short interest totaling 5,571 shares, an increase of 155.8% from the August 31st total of 2,178 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 475 shares, the days-to-cover ratio is currently 11.7 days.

Hedge Funds Weigh In On First Trust Indxx Metaverse ETF

An institutional investor recently raised its position in First Trust Indxx Metaverse ETF stock. Envestnet Asset Management Inc. grew its position in shares of First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 24.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,268 shares of the company’s stock after purchasing an additional 4,502 shares during the period. Envestnet Asset Management Inc. owned approximately 15.51% of First Trust Indxx Metaverse ETF worth $1,335,000 as of its most recent SEC filing.

First Trust Indxx Metaverse ETF Stock Up 0.2%

Shares of NASDAQ ARVR traded up $0.12 on Friday, hitting $58.55. The company had a trading volume of 586 shares, compared to its average volume of 352. First Trust Indxx Metaverse ETF has a 12-month low of $42.61 and a 12-month high of $59.24. The firm has a market capitalization of $8.78 million, a P/E ratio of 29.06 and a beta of 1.25. The business has a 50 day moving average of $56.44 and a two-hundred day moving average of $53.43.

First Trust Indxx Metaverse ETF Company Profile

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.