Roundhill Meme Stock ETF (NYSEARCA:MEME) Stock Price Up 1.4% – Time to Buy?

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

Roundhill Meme Stock ETF Trading Up 1.4%

The company has a market cap of $17.29 million, a P/E ratio of -148.12 and a beta of 5.60. The company has a 50 day moving average price of $9.59 and a 200-day moving average price of $8.14.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MEME. Group One Trading LLC bought a new position in shares of Roundhill Meme Stock ETF in the fourth quarter worth about $39,000. Simplex Trading LLC bought a new stake in shares of Roundhill Meme Stock ETF during the 4th quarter valued at approximately $60,000. Goldman Sachs Group Inc. bought a new stake in shares of Roundhill Meme Stock ETF during the 4th quarter valued at approximately $757,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Roundhill Meme Stock ETF during the 4th quarter valued at approximately $4,243,000. Institutional investors and hedge funds own 29.90% of the company’s stock.

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.