Roundhill Meme Stock ETF (NYSEARCA:MEME) Shares Up 1.5% – Should You Buy?

Roundhill Meme Stock ETF (NYSEARCA:MEME) shares rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $8.08 and last traded at $7.98. Approximately 158,306 shares changed hands during trading, a decline of 52% from the average daily volume of 331,280 shares. The stock had previously closed at $7.86.

Roundhill Meme Stock ETF Stock Up 1.5%

The firm has a market cap of $21.95 million, a price-to-earnings ratio of -168.85 and a beta of 1.81. The company’s 50-day moving average price is $6.95 and its 200-day moving average price is $20.98.

Hedge Funds Weigh In On Roundhill Meme Stock ETF

An institutional investor recently bought a new position in Roundhill Meme Stock ETF stock. Heck Capital Advisors LLC bought a new stake in Roundhill Meme Stock ETF (NYSEARCA:MEME) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 684,341 shares of the company’s stock, valued at approximately $4,243,000. Heck Capital Advisors LLC owned approximately 24.44% of Roundhill Meme Stock ETF at the end of the most recent reporting period. 29.90% of the stock is currently 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.