GMO U.S. Quality ETF (NYSEARCA:QLTY) Hits New 52-Week High – Still a Buy?

GMO U.S. Quality ETF (NYSEARCA:QLTY)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $41.25 and last traded at $41.23, with a volume of 24037 shares changing hands. The stock had previously closed at $41.02.

GMO U.S. Quality ETF Trading Up 0.5%

The firm has a fifty day simple moving average of $38.61 and a 200 day simple moving average of $38.52. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 57.26 and a beta of 0.99.

Hedge Funds Weigh In On GMO U.S. Quality ETF

A number of hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. raised its holdings in shares of GMO U.S. Quality ETF by 3.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,765 shares of the company’s stock worth $245,000 after buying an additional 250 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of GMO U.S. Quality ETF by 174.5% in the 1st quarter. Royal Bank of Canada now owns 1,268 shares of the company’s stock worth $45,000 after buying an additional 806 shares in the last quarter. Aspen Investment Management Inc raised its holdings in shares of GMO U.S. Quality ETF by 4.6% in the 1st quarter. Aspen Investment Management Inc now owns 27,800 shares of the company’s stock worth $1,006,000 after buying an additional 1,210 shares in the last quarter. Arete Wealth Advisors LLC raised its holdings in shares of GMO U.S. Quality ETF by 4.6% in the 1st quarter. Arete Wealth Advisors LLC now owns 40,475 shares of the company’s stock worth $1,465,000 after buying an additional 1,785 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of GMO U.S. Quality ETF by 7.6% in the 1st quarter. Parallel Advisors LLC now owns 28,819 shares of the company’s stock worth $1,043,000 after buying an additional 2,044 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

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.