Allworth Financial LP Trims Stock Position in GMO U.S. Quality ETF $QLTY

Allworth Financial LP cut its holdings in GMO U.S. Quality ETF (NYSEARCA:QLTY) by 26.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,097,325 shares of the company’s stock after selling 2,177,852 shares during the period. GMO U.S. Quality ETF accounts for about 1.1% of Allworth Financial LP’s portfolio, making the stock its 17th largest holding. Allworth Financial LP owned approximately 0.05% of GMO U.S. Quality ETF worth $253,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in GMO U.S. Quality ETF by 174.5% in the first quarter. Royal Bank of Canada now owns 1,268 shares of the company’s stock valued at $45,000 after purchasing an additional 806 shares during the period. Sunbelt Securities Inc. boosted its stake in 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 worth $245,000 after buying an additional 250 shares during the period. KFG Wealth Management LLC increased its position in shares of GMO U.S. Quality ETF by 3.3% during the second quarter. KFG Wealth Management LLC now owns 10,607 shares of the company’s stock valued at $441,000 after acquiring an additional 342 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of GMO U.S. Quality ETF in the 1st quarter valued at approximately $485,000. Finally, Chemistry Wealth Management LLC lifted its holdings in shares of GMO U.S. Quality ETF by 22.9% in the 2nd quarter. Chemistry Wealth Management LLC now owns 12,018 shares of the company’s stock worth $500,000 after acquiring an additional 2,239 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

GMO U.S. Quality ETF Price Performance

Shares of NYSEARCA:QLTY traded down $0.44 during mid-day trading on Tuesday, reaching $42.60. 229,014 shares of the company were exchanged, compared to its average volume of 557,114. GMO U.S. Quality ETF has a 1 year low of $35.15 and a 1 year high of $43.70. The firm’s 50-day simple moving average is $42.30 and its 200 day simple moving average is $40.30. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 59.17 and a beta of 0.97.

GMO U.S. Quality ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Tuesday, June 30th were paid a $0.0754 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from GMO U.S. Quality ETF’s previous quarterly dividend of $0.06. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. GMO U.S. Quality ETF’s payout ratio is presently 40.28%.

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.