Procure Space ETF (NASDAQ:UFO) Sets New 12-Month High – Still a Buy?

Procure Space ETF (NASDAQ:UFO) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $65.75 and last traded at $65.42, with a volume of 543751 shares trading hands. The stock had previously closed at $61.90.

Procure Space ETF Stock Performance

The company has a 50-day moving average of $51.35 and a 200-day moving average of $44.41. The firm has a market capitalization of $966.60 million, a price-to-earnings ratio of 18.98 and a beta of 1.23.

Hedge Funds Weigh In On Procure Space ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UFO. Foundations Investment Advisors LLC acquired a new position in Procure Space ETF during the 3rd quarter worth approximately $3,126,000. Quadrature Capital Ltd acquired a new position in Procure Space ETF during the 4th quarter worth approximately $3,382,000. Rockport Wealth LLC acquired a new position in Procure Space ETF during the 4th quarter worth approximately $2,782,000. Bank of America Corp DE boosted its position in Procure Space ETF by 1,590.5% during the 1st quarter. Bank of America Corp DE now owns 65,590 shares of the company’s stock worth $2,939,000 after acquiring an additional 61,710 shares during the last quarter. Finally, WT Wealth Management acquired a new position in Procure Space ETF during the 1st quarter worth approximately $2,732,000.

Procure Space ETF Company Profile

The Procure Space ETF (UFO) is an exchange-traded fund that is based on the S-Network Space index. The fund tracks a tier-weighted index of aerospace companies located globally. UFO was launched on Apr 11, 2019 and is managed by ProcureAM.