The short interest in the Next Frontier Internet ETF (NYSEARCA:FMQQ) experienced a significant decline in January, dropping by 46.6%. As of January 15, 2024, the total short interest stood at just 747 shares, compared to 1,399 shares at the end of December 2023. This indicates that only 0.0% of the fund’s shares are currently short sold, reflecting a notable shift in investor sentiment.
Trading Performance and Market Insights
On Friday, shares of the Next Frontier Internet ETF fell by $0.25, reaching a price of $13.28. During the trading session, 2,823 shares changed hands, which is slightly below the average volume of 9,506 shares. The fund’s fifty-day moving average is currently $13.87, while the two-hundred-day moving average is at $14.50. Over the past year, the ETF has recorded a low of $11.47 and a high of $15.84.
The market capitalization of the Next Frontier Internet ETF is approximately $25.50 million, with a price-to-earnings ratio of 21.89 and a beta value of 1.11. These figures suggest a relatively stable performance compared to broader market fluctuations.
Dividend Announcement and Hedge Fund Activity
In a recent announcement, the Next Frontier Internet ETF declared an annual dividend of $0.0846 per share, which was paid out on December 31, 2023. Investors who held shares as of December 30, 2023 received this dividend, resulting in an impressive yield of 61.0%. The ex-dividend date was also set on December 30, 2023, allowing investors time to adjust their holdings.
The FMQQ Next Frontier Internet & E-commerce ETF, launched on September 28, 2021, is managed by a team focused on investing in internet and e-commerce companies from emerging and frontier markets. As a passively managed fund, it aims to track the performance of the FMQQ index, offering investors exposure to a diverse range of global markets.
As the landscape for internet and e-commerce evolves, the Next Frontier Internet ETF continues to attract attention from investors and analysts alike, reflecting the growing importance of these sectors in the global economy.
