NETLease Corporate Real Estate ETF (NYSEARCA:NETL) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

NETLease Corporate Real Estate ETF (NYSEARCA:NETL)’s share price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $24.36 and traded as low as $24.11. NETLease Corporate Real Estate ETF shares last traded at $24.23, with a volume of 4,553 shares trading hands.

NETLease Corporate Real Estate ETF Stock Down 0.6%

The stock has a market cap of $47.25 million, a price-to-earnings ratio of -31.88 and a beta of 0.81. The company has a 50 day simple moving average of $24.36 and a 200 day simple moving average of $25.84.

Institutional Investors Weigh In On NETLease Corporate Real Estate ETF

A hedge fund recently bought a new stake in NETLease Corporate Real Estate ETF stock. Continuum Advisory LLC acquired a new stake in NETLease Corporate Real Estate ETF (NYSEARCA:NETL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,995 shares of the company’s stock, valued at approximately $53,000. Continuum Advisory LLC owned about 0.10% of NETLease Corporate Real Estate ETF at the end of the most recent reporting period. Institutional investors and hedge funds own 83.51% of the company’s stock.

About NETLease Corporate Real Estate ETF

The fundamental Income Net Lease Real Estate ETF (NETL) is an exchange-traded fund that mostly invests in real estate equity. The fund tracks an index that provides current income by investing in net lease US real estate equities weighted by a modified market-cap strategy. NETL was launched on Mar 22, 2019 and is managed by NETL.