The short interest in the Next Frontier Internet ETF (NYSEARCA:FMQQ) experienced a significant decline in January 2024. As of January 15, the total short interest was recorded at just 747 shares, marking a decrease of 46.6% from the 1,399 shares reported on December 31, 2023. This decline indicates that 0.0% of the ETF’s shares are currently short sold, suggesting a bullish sentiment among investors.
Market activity also reflects this shift. On January 12, shares of the Next Frontier Internet ETF fell by $0.25 to reach a trading price of $13.28. A total of 2,823 shares changed hands, slightly below the average volume of 9,506 shares. The ETF has demonstrated a fifty-day moving average of $13.87 and a 200-day moving average of $14.50. Over the past year, its shares have fluctuated between a low of $11.47 and a high of $15.84, with a current market capitalization of $25.50 million and a price-to-earnings ratio of 21.89.
Dividend Announcement and Fund Overview
In addition to its trading performance, the Next Frontier Internet ETF recently declared an annual dividend. Shareholders on record as of December 30, 2023, received a dividend of $0.0846 per share, yielding an impressive 61.0%. The ex-dividend date was also December 30, 2023, indicating the timeline for investors to qualify for the payout.
The FMQQ Next Frontier Internet & Ecommerce ETF, launched on September 28, 2021, is designed to provide exposure to internet and e-commerce companies operating within emerging and frontier markets. The fund is passively managed, aligning with its index to capture growth opportunities in these rapidly developing sectors.
Market analysts and hedge funds appear to be closely monitoring the ETF’s performance, particularly in light of the recent changes in short interest and stock movement. As investors assess the implications of these trends, the Next Frontier Internet ETF remains a focal point for those looking to capitalize on opportunities in the global internet space.
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