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

U.S. Global Jets ETF (NYSEARCA:JETS) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $24.55 and traded as low as $22.13. U.S. Global Jets ETF shares last traded at $22.32, with a volume of 1,999,573 shares trading hands.

U.S. Global Jets ETF Stock Performance

The company has a market cap of $922.93 million, a P/E ratio of 11.31 and a beta of 1.36. The business has a fifty day simple moving average of $24.55 and a 200 day simple moving average of $23.71.

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

Several institutional investors and hedge funds have recently made changes to their positions in JETS. Flow Traders U.S. LLC increased its stake in U.S. Global Jets ETF by 186.7% during the third quarter. Flow Traders U.S. LLC now owns 142,713 shares of the company’s stock valued at $2,957,000 after purchasing an additional 92,939 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of U.S. Global Jets ETF by 656.8% during the 4th quarter. Avior Wealth Management LLC now owns 1,438 shares of the company’s stock valued at $36,000 after buying an additional 1,248 shares during the last quarter. Roxbury Financial LLC acquired a new stake in U.S. Global Jets ETF during the fourth quarter worth about $73,000. Leuthold Group LLC bought a new position in U.S. Global Jets ETF in the fourth quarter worth about $1,095,000. Finally, Sims Investment Management LLC acquired a new position in U.S. Global Jets ETF in the fourth quarter valued at approximately $49,000.

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.