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 company 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 price is $25.62 and its 200-day moving average price is $26.95.

Institutional Trading of U.S. Global Jets ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ares Financial Consulting LLC acquired a new stake in shares of U.S. Global Jets ETF in the fourth quarter valued at approximately $49,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of U.S. Global Jets ETF in the fourth quarter valued at approximately $85,000. NewEdge Advisors LLC increased its holdings in U.S. Global Jets ETF by 18.8% during the first quarter. NewEdge Advisors LLC now owns 3,164 shares of the company’s stock worth $66,000 after buying an additional 500 shares during the last quarter. AdvisorNet Financial Inc increased its holdings 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 buying an additional 4,708 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in U.S. Global Jets ETF by 48.1% during the fourth quarter. Private Trust Co. NA now owns 7,403 shares of the company’s stock worth $208,000 after buying an additional 2,403 shares during the last quarter.

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.