Procure Space ETF (NASDAQ:UFO) Sees Large Volume Increase – Still a Buy?

Procure Space ETF (NASDAQ:UFO) shares saw unusually-high trading volume on Friday . Approximately 741,225 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 905,930 shares.The stock last traded at $54.16 and had previously closed at $56.90.

Procure Space ETF Stock Performance

The business has a fifty day simple moving average of $55.05 and a 200 day simple moving average of $46.81. The stock has a market capitalization of $798.31 million, a price-to-earnings ratio of 18.98 and a beta of 1.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UFO. Jane Street Group LLC acquired a new position in Procure Space ETF in the 1st quarter valued at $779,000. Raymond James Financial Inc. grew its holdings in Procure Space ETF by 124.4% in the 2nd quarter. Raymond James Financial Inc. now owns 20,659 shares of the company’s stock valued at $594,000 after buying an additional 11,451 shares in the last quarter. HighTower Advisors LLC grew its holdings in Procure Space ETF by 215.7% in the 3rd quarter. HighTower Advisors LLC now owns 38,132 shares of the company’s stock valued at $1,360,000 after buying an additional 26,054 shares in the last quarter. Generation Capital Management LLC acquired a new position in Procure Space ETF in the 3rd quarter valued at $464,000. Finally, Comerica Bank acquired a new position in Procure Space ETF in the 3rd quarter valued at $89,000.

About Procure Space ETF

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.