U.S. Global Jets ETF (NYSEARCA:JETS) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of U.S. Global Jets ETF (NYSEARCA:JETS) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $25.28 and traded as low as $24.35. U.S. Global Jets ETF shares last traded at $25.24, with a volume of 8,114,770 shares.

U.S. Global Jets ETF Stock Up 2.2%

The business has a fifty day moving average price of $25.28 and a 200-day moving average price of $23.98. The stock has a market capitalization of $824.09 million, a P/E ratio of 9.62 and a beta of 1.33.

Institutional Investors Weigh In On U.S. Global Jets ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in JETS. Janney Montgomery Scott LLC grew its stake in shares of U.S. Global Jets ETF by 3.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,617 shares of the company’s stock valued at $290,000 after purchasing an additional 450 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of U.S. Global Jets ETF in the first quarter worth approximately $570,000. OLD Mission Capital LLC grew its position in U.S. Global Jets ETF by 454.0% during the first quarter. OLD Mission Capital LLC now owns 48,719 shares of the company’s stock valued at $1,012,000 after buying an additional 39,925 shares during the period. Quantitative Investment Management LLC grew its position in U.S. Global Jets ETF by 330.9% during the first quarter. Quantitative Investment Management LLC now owns 216,844 shares of the company’s stock valued at $4,503,000 after buying an additional 166,522 shares during the period. Finally, Pandora Wealth Inc. purchased a new stake in U.S. Global Jets ETF during the first quarter valued at approximately $126,000.

U.S. Global Jets ETF Company Profile

The U.S. Global Jets ETF (JETS) is an exchange-traded fund that is based on the Stuttgart US Global Jets (USD) index. The fund invests in both US and non-US airline companies. This concentrated portfolio is weighted towards domestic passenger airlines. JETS was launched on Apr 28, 2015 and is managed by US Global.