U.S. Global Jets ETF (NYSEARCA:JETS) Shares Break Below Fifty Day Moving Average – Should You Sell?

Shares of U.S. Global Jets ETF (NYSEARCA:JETS) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $29.94 and traded as low as $27.81. U.S. Global Jets ETF shares last traded at $28.46, with a volume of 3,873,149 shares changing hands.

U.S. Global Jets ETF Price Performance

The firm has a market cap of $804.20 million, a P/E ratio of 9.62 and a beta of 1.18. The stock’s 50 day moving average is $29.91 and its two-hundred day moving average is $28.53.

Institutional Investors Weigh In On U.S. Global Jets ETF

A number of hedge funds have recently made changes to their positions in the company. AdvisorNet Financial Inc raised its stake in shares of U.S. Global Jets ETF by 1,730.9% in the first quarter. AdvisorNet Financial Inc now owns 4,980 shares of the company’s stock valued at $123,000 after acquiring an additional 4,708 shares during the last quarter. Highland Investment Advisors LLC acquired a new stake in U.S. Global Jets ETF during the 2nd quarter valued at $167,000. Gordian Capital Singapore Pte Ltd increased its holdings in U.S. Global Jets ETF by 800,000.0% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 8,001 shares of the company’s stock valued at $225,000 after purchasing an additional 8,000 shares in the last quarter. Rathbones Group PLC bought a new position in U.S. Global Jets ETF in the 1st quarter valued at $228,000. Finally, Ibex Wealth Advisors bought a new position in U.S. Global Jets ETF in the 1st quarter valued at $323,000.

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.