U.S. Global Jets ETF (NYSEARCA:JETS) Shares Cross Above 50 Day Moving Average – Here’s Why

U.S. Global Jets ETF (NYSEARCA:JETS) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $25.62 and traded as high as $25.83. U.S. Global Jets ETF shares last traded at $25.56, with a volume of 3,361,127 shares changing hands.

U.S. Global Jets ETF Stock Down 2.5%

The firm has a market capitalization of $742.52 million, a price-to-earnings ratio of 9.62 and a beta of 1.16. The stock’s fifty day moving average is $25.62 and its two-hundred day moving average is $26.95.

Hedge Funds Weigh In On U.S. Global Jets ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ibex Wealth Advisors bought a new position in U.S. Global Jets ETF during the first quarter worth $323,000. 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 worth $1,067,000 after purchasing an additional 3,871 shares during the period. AdvisorNet Financial Inc boosted its position in U.S. Global Jets ETF by 1,730.9% during the first quarter. AdvisorNet Financial Inc now owns 4,980 shares of the company’s stock worth $123,000 after purchasing an additional 4,708 shares during the period. Quantitative Investment Management LLC bought a new position in U.S. Global Jets ETF during the fourth quarter worth $3,833,000. Finally, Marshall Wace LLP bought a new position in U.S. Global Jets ETF during the fourth quarter worth $1,677,000.

About U.S. Global Jets ETF

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.