ProShares metaverse ETF Sees Modest Price Increase Amid Low Trading Volume

The ProShares metaverse ETF (NYSEARCA: VERS) experienced a slight uptick of 1% in its share price during midday trading on Friday. The stock reached a peak of $53.70 before closing at the same price, with only 6 shares traded—significantly lower than the average daily volume of 337 shares. The previous closing price was recorded at $53.19.

Market Performance Overview

The ETF’s fifty-day moving average stands at $49.81, while its 200-day moving average is slightly lower at $49.71. With a market capitalization of $5.37 million, the fund has a price-to-earnings ratio of 25.65 and a beta value of 1.74, indicating its volatility in relation to the market.

Institutional Investment Insights

Recently, a hedge fund has increased its investment in the ProShares metaverse ETF. Tower Research Capital LLC TRC boosted its holdings by 63.1% during the fourth quarter, as per its latest filing with the Securities and Exchange Commission. After acquiring an additional 5,526 shares, the firm now holds a total of 14,278 shares, representing approximately 10.20% of the ETF, valued at around $701,000 at the close of the last reporting period.

Understanding the ProShares metaverse ETF

The ProShares metaverse ETF (VERS) is an exchange-traded fund designed to track the Solactive metaverse Theme index. This fund focuses on a select group of stocks from various global industries that are expected to benefit from the growth and utilization of the metaverse. Stocks are chosen based on their relevance to the theme and are weighted using a modified equal weight strategy.

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