The Next Frontier Internet ETF (NYSEARCA:FMQQ) experienced a notable decrease in short interest during January 2024. As of January 15, the ETF reported a total short interest of just 747 shares, reflecting a substantial decline of 46.6% from the 1,399 shares reported on December 31, 2023. Currently, the short interest represents 0.0% of the company’s total shares. With an average daily trading volume of 9,567 shares, the days-to-cover ratio stands at a mere 0.1 days.
On the trading front, shares of the Next Frontier Internet ETF fell by $0.25 on Friday, reaching a price of $13.28. In total, 2,823 shares changed hands, compared to its average volume of 9,506 shares. The ETF has shown mixed performance over the past year, with a low of $11.47 and a high of $15.84. Currently, its fifty-day moving average is $13.87, while the two-hundred-day moving average is $14.50. The ETF boasts a market capitalization of $25.50 million and a price-to-earnings ratio of 21.89, alongside a beta of 1.11.
Dividend Announcement and Fund Overview
The Next Frontier Internet ETF also recently declared an annual dividend, which was issued on December 31, 2023. Shareholders recorded as of December 30, 2023 received a dividend of $0.0846 per share, translating to an impressive dividend yield of 61.0%. The ex-dividend date was also set for December 30, 2023.
The FMQQ Next Frontier Internet & Ecommerce ETF focuses on internet and e-commerce companies primarily from emerging and frontier markets. Launched on September 28, 2021, this passively managed fund aims to provide investors with exposure to the growth potential within these rapidly developing sectors.
Investors are encouraged to remain informed about the Next Frontier Internet ETF as it continues to adapt to market conditions and investment landscapes.
