Short Interest in First Trust Indxx Metaverse ETF (NASDAQ:ARVR) Drops By 8.3%

First Trust Indxx Metaverse ETF (NASDAQ:ARVR) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,100 shares, a drop of 8.3% from the September 15th total of 1,200 shares. Based on an average daily trading volume, of 1,600 shares, the short-interest ratio is currently 0.7 days.

First Trust Indxx Metaverse ETF Stock Performance

Shares of ARVR stock opened at $37.08 on Wednesday. The company has a market capitalization of $1.85 million, a price-to-earnings ratio of 25.12 and a beta of -1.30. First Trust Indxx Metaverse ETF has a 52 week low of $28.19 and a 52 week high of $38.91. The company has a 50-day simple moving average of $36.38 and a 200 day simple moving average of $36.23.

Hedge Funds Weigh In On First Trust Indxx Metaverse ETF

An institutional investor recently raised its position in First Trust Indxx Metaverse ETF stock. SRS Capital Advisors Inc. boosted its position in shares of First Trust Indxx Metaverse ETF (NASDAQ:ARVR) by 5.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,906 shares of the company’s stock after buying an additional 1,018 shares during the period. SRS Capital Advisors Inc. owned approximately 20.91% of First Trust Indxx Metaverse ETF worth $779,000 at the end of the most recent quarter.

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.