Short Interest in Roundhill Meme Stock ETF (NYSEARCA:MEME) Expands By 246.7%
by Kim Johansen · The Markets DailyRoundhill Meme Stock ETF (NYSEARCA:MEME – Get Free Report) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 182,020 shares, an increase of 246.7% from the July 15th total of 52,508 shares. Based on an average daily volume of 260,292 shares, the days-to-cover ratio is currently 0.7 days. Currently, 10.3% of the company’s stock are short sold.
Institutional Investors Weigh In On Roundhill Meme Stock ETF
Several hedge funds have recently made changes to their positions in MEME. Group One Trading LLC purchased a new position in Roundhill Meme Stock ETF during the fourth quarter worth about $39,000. Simplex Trading LLC purchased a new position in shares of Roundhill Meme Stock ETF in the fourth quarter valued at $60,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Roundhill Meme Stock ETF in the fourth quarter valued at about $757,000. Institutional investors and hedge funds own 29.90% of the company’s stock.
Roundhill Meme Stock ETF Stock Up 2.0%
MEME traded up $0.17 on Thursday, reaching $8.72. The company had a trading volume of 38,243 shares, compared to its average volume of 215,673. The stock has a 50-day moving average price of $8.50 and a 200-day moving average price of $8.13. Roundhill Meme Stock ETF has a 1 year low of $5.33 and a 1 year high of $11.91. The stock has a market capitalization of $15.43 million, a PE ratio of -184.51 and a beta of -7.52.
Roundhill Meme Stock ETF Company Profile
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.