Defiance Quantum ETF (NASDAQ:QTUM) Sets New 52-Week High – Should You Buy?

The Defiance Quantum ETF (NASDAQ:QTUM) reached a new 52-week high on Monday . The company traded as high as $146.67 and last traded at $146.19, with a volume of 79444 shares traded. The stock had previously closed at $144.91.

Defiance Quantum ETF Stock Up 2.0%

The stock has a market cap of $4.71 billion, a P/E ratio of 24.34 and a beta of 1.31. The business has a 50 day moving average price of $117.91 and a two-hundred day moving average price of $114.65.

Defiance Quantum ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 25th were paid a dividend of $0.2236 per share. The ex-dividend date of this dividend was Wednesday, March 25th.

Hedge Funds Weigh In On Defiance Quantum ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Defiance Quantum ETF by 88.4% during the third quarter. Van ECK Associates Corp now owns 243 shares of the company’s stock valued at $25,000 after buying an additional 114 shares during the last quarter. Gen Wealth Partners Inc raised its position in Defiance Quantum ETF by 51.7% during the fourth quarter. Gen Wealth Partners Inc now owns 320 shares of the company’s stock valued at $35,000 after purchasing an additional 109 shares during the period. Copia Wealth Management raised its position in Defiance Quantum ETF by 1,016.1% during the third quarter. Copia Wealth Management now owns 346 shares of the company’s stock valued at $36,000 after purchasing an additional 315 shares during the period. Sound Income Strategies LLC purchased a new stake in Defiance Quantum ETF during the fourth quarter valued at approximately $42,000. Finally, Sankala Group LLC purchased a new stake in Defiance Quantum ETF during the fourth quarter valued at approximately $46,000.

About Defiance Quantum ETF

The Defiance Quantum ETF (QTUM) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an adjusted-equal-weighted index of companies involved in the research and development of quantum computers. QTUM was launched on Sep 5, 2018 and is managed by Defiance.