Roundhill Meme Stock ETF (NYSEARCA:MEME) Short Interest Down 53.0% in May

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

Institutional Investors Weigh In On Roundhill Meme Stock ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC purchased a new stake in Roundhill Meme Stock ETF in the 4th quarter worth $39,000. Simplex Trading LLC purchased a new stake in Roundhill Meme Stock ETF in the 4th quarter worth $60,000. Goldman Sachs Group Inc. purchased a new stake in Roundhill Meme Stock ETF in the 4th quarter worth $757,000. Finally, Heck Capital Advisors LLC purchased a new stake in Roundhill Meme Stock ETF in the 4th quarter worth $4,243,000. Hedge funds and other institutional investors own 29.90% of the company’s stock.

Roundhill Meme Stock ETF Stock Down 4.0%

Shares of NYSEARCA:MEME traded down $0.41 during trading on Friday, reaching $9.78. 224,297 shares of the company’s stock traded hands, compared to its average volume of 232,789. Roundhill Meme Stock ETF has a fifty-two week low of $5.33 and a fifty-two week high of $11.91. The firm has a market cap of $20.05 million, a PE ratio of -206.94 and a beta of 5.98. The company has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $7.73.

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.