U.S. Global Jets ETF (NYSEARCA:JETS) Share Price Breaks Below 50 Day Moving Average – Here’s Why

Shares of U.S. Global Jets ETF (NYSEARCA:JETS) passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $29.73 and traded as low as $27.98. U.S. Global Jets ETF shares last traded at $28.14, with a volume of 3,581,826 shares.

U.S. Global Jets ETF Stock Up 0.2%

The company has a market cap of $835.76 million, a price-to-earnings ratio of 9.62 and a beta of 1.22. The company’s fifty day moving average price is $29.73 and its two-hundred day moving average price is $28.65.

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

Several institutional investors have recently added to or reduced their stakes in the stock. Highland Investment Advisors LLC bought a new position in U.S. Global Jets ETF during the 2nd quarter worth about $167,000. Rathbones Group PLC bought a new stake in shares of U.S. Global Jets ETF in the first quarter valued at about $228,000. Ibex Wealth Advisors bought a new stake in shares of U.S. Global Jets ETF in the first quarter valued at about $323,000. Janney Montgomery Scott LLC boosted its position in shares of U.S. Global Jets ETF by 9.8% during the first quarter. Janney Montgomery Scott LLC now owns 43,307 shares of the company’s stock worth $1,067,000 after buying an additional 3,871 shares during the period. Finally, AdvisorNet Financial Inc boosted its position in shares of 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 period.

U.S. Global Jets ETF Company Profile

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.