U.S. Global Jets ETF (NYSEARCA:JETS) Hits New 1-Year High – Still a Buy?

U.S. Global Jets ETF (NYSEARCA:JETS) hit a new 52-week high on Wednesday . The company traded as high as $33.98 and last traded at $33.93, with a volume of 914787 shares trading hands. The stock had previously closed at $33.40.

U.S. Global Jets ETF Trading Up 1.0%

The stock has a 50-day simple moving average of $30.83 and a 200-day simple moving average of $28.35. The company has a market capitalization of $829.51 million, a price-to-earnings ratio of 9.62 and a beta of 1.19.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rathbones Group PLC acquired a new stake in shares of U.S. Global Jets ETF in the 1st quarter valued at about $228,000. Ibex Wealth Advisors bought a new stake in U.S. Global Jets ETF in the first quarter valued at about $323,000. Janney Montgomery Scott LLC increased its holdings in U.S. Global Jets ETF by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 43,307 shares of the company’s stock valued at $1,067,000 after buying an additional 3,871 shares during the last quarter. AdvisorNet Financial Inc raised its stake 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 valued at $123,000 after buying an additional 4,708 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new position in U.S. Global Jets ETF during the 4th quarter worth approximately $3,833,000.

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.