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

Shares of U.S. Global Jets ETF (NYSEARCA:JETS) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $29.95 and traded as low as $29.90. U.S. Global Jets ETF shares last traded at $30.10, with a volume of 1,553,708 shares changing hands.

U.S. Global Jets ETF Price Performance

The stock has a fifty day simple moving average of $30.01 and a 200-day simple moving average of $28.20. The company has a market capitalization of $782.60 million, a price-to-earnings ratio of 9.62 and a beta of 1.18.

Hedge Funds Weigh In On U.S. Global Jets ETF

Several large investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in U.S. Global Jets ETF during the third quarter worth $6,509,000. Quantitative Investment Management LLC purchased a new position in U.S. Global Jets ETF in the fourth quarter valued at $3,833,000. Marshall Wace LLP acquired a new position in shares of U.S. Global Jets ETF in the fourth quarter worth about $1,677,000. SG Americas Securities LLC acquired a new position in shares of U.S. Global Jets ETF in the fourth quarter worth about $995,000. Finally, Ibex Wealth Advisors purchased a new stake in shares of U.S. Global Jets ETF during the 1st quarter worth about $323,000.

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.