GMO U.S. Quality ETF (NYSEARCA:QLTY) Shares Cross Above 50 Day Moving Average – Here’s Why

GMO U.S. Quality ETF (NYSEARCA:QLTY) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $43.35 and traded as high as $44.34. GMO U.S. Quality ETF shares last traded at $44.24, with a volume of 40,627,668 shares changing hands.

GMO U.S. Quality ETF Trading Up 2.5%

The business’s fifty day simple moving average is $43.35 and its 200-day simple moving average is $40.87. The firm has a market cap of $5.56 billion, a P/E ratio of 61.44 and a beta of 0.95.

GMO U.S. Quality ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Wednesday, September 30th were paid a $0.0613 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is a drop from GMO U.S. Quality ETF’s previous quarterly dividend of $0.0754. This represents a $0.25 annualized dividend and a dividend yield of 0.6%. GMO U.S. Quality ETF’s payout ratio is 38.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in GMO U.S. Quality ETF by 2,089.2% in the 3rd quarter. GAMMA Investing LLC now owns 810 shares of the company’s stock worth $35,000 after buying an additional 773 shares during the period. Royal Bank of Canada grew its position in shares of GMO U.S. Quality ETF by 174.5% in the 1st quarter. Royal Bank of Canada now owns 1,268 shares of the company’s stock worth $45,000 after buying an additional 806 shares during the last quarter. William Mack & Associates Inc. bought a new stake in shares of GMO U.S. Quality ETF in the 3rd quarter worth approximately $170,000. QRG Capital Management Inc. purchased a new position in shares of GMO U.S. Quality ETF during the second quarter valued at approximately $216,000. Finally, Sunbelt Securities Inc. increased its stake in shares of GMO U.S. Quality ETF by 3.8% during the first quarter. Sunbelt Securities Inc. now owns 6,765 shares of the company’s stock valued at $245,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

About GMO U.S. Quality ETF

The GMO U.S. Quality ETF (QLTY) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that focuses on equities of high-quality US companies. The funds investments may include companies of any market capitalization. QLTY was launched on Nov 13, 2023 and is issued by GMO.