Roundhill Meme Stock ETF (NYSEARCA:MEME) Trading Up 1.4% – Here’s What Happened

Roundhill Meme Stock ETF (NYSEARCA:MEME) traded up 1.4% during mid-day trading on Monday . The company traded as high as $7.25 and last traded at $7.00. 130,909 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 219,421 shares. The stock had previously closed at $6.90.

Roundhill Meme Stock ETF Stock Performance

The stock has a market cap of $14.09 million, a price-to-earnings ratio of -162.93 and a beta of 5.88. The company’s 50 day simple moving average is $9.54 and its two-hundred day simple moving average is $8.15.

Hedge Funds Weigh In On Roundhill Meme Stock ETF

A number of hedge funds have recently modified their holdings of the stock. Group One Trading LLC purchased a new stake in shares of Roundhill Meme Stock ETF during the fourth quarter worth $39,000. Simplex Trading LLC purchased a new position in Roundhill Meme Stock ETF in the fourth quarter valued at about $60,000. Goldman Sachs Group Inc. purchased a new position in Roundhill Meme Stock ETF in the fourth quarter valued at about $757,000. Finally, Heck Capital Advisors LLC purchased a new position in Roundhill Meme Stock ETF in the fourth quarter valued at about $4,243,000. 29.90% of the stock is owned by institutional investors and hedge funds.

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.