U.S. Global Jets ETF (NYSEARCA:JETS) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

U.S. Global Jets ETF (NYSEARCA:JETS)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $29.12 and traded as low as $26.55. U.S. Global Jets ETF shares last traded at $26.80, with a volume of 5,144,891 shares changing hands.

U.S. Global Jets ETF Stock Up 2.8%

The firm has a market cap of $771.57 million, a price-to-earnings ratio of 9.62 and a beta of 1.22. The company has a 50-day moving average price of $28.84 and a 200 day moving average price of $28.83.

Institutional Trading of U.S. Global Jets ETF

Hedge funds have recently made changes to their positions in the stock. AdvisorNet Financial Inc increased its stake in U.S. Global Jets ETF by 1,730.9% in the 1st quarter. AdvisorNet Financial Inc now owns 4,980 shares of the company’s stock valued at $123,000 after buying an additional 4,708 shares during the period. Highland Investment Advisors LLC purchased a new stake in shares of U.S. Global Jets ETF during the second quarter worth $167,000. Rathbones Group PLC purchased a new stake in shares of U.S. Global Jets ETF during the first quarter worth $228,000. Ibex Wealth Advisors acquired a new stake in U.S. Global Jets ETF during the first quarter valued at $323,000. Finally, Janney Montgomery Scott LLC boosted its position in U.S. Global Jets ETF by 9.8% during the first quarter. Janney Montgomery Scott LLC now owns 43,307 shares of the company’s stock valued at $1,067,000 after purchasing an additional 3,871 shares during the last quarter.

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.