T. Rowe Price QM U.S. Bond ETF (NYSEARCA:TAGG) Hits New 1-Year Low – Here’s Why

Shares of T. Rowe Price QM U.S. Bond ETF (NYSEARCA:TAGG) hit a new 52-week low during trading on Monday . The stock traded as low as $41.70 and last traded at $41.70, with a volume of 1577 shares changing hands. The stock had previously closed at $41.78.

T. Rowe Price QM U.S. Bond ETF Price Performance

The company’s 50 day simple moving average is $42.11 and its 200 day simple moving average is $42.53. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 34.46 and a beta of 0.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in T. Rowe Price QM U.S. Bond ETF in the 2nd quarter valued at about $131,000. Osaic Holdings Inc. increased its stake in shares of T. Rowe Price QM U.S. Bond ETF by 12.7% during the fourth quarter. Osaic Holdings Inc. now owns 4,620 shares of the company’s stock worth $199,000 after buying an additional 521 shares during the period. COFG Advisors LLC purchased a new stake in shares of T. Rowe Price QM U.S. Bond ETF during the fourth quarter worth approximately $280,000. GeoWealth Management LLC acquired a new stake in T. Rowe Price QM U.S. Bond ETF in the fourth quarter valued at approximately $292,000. Finally, Citadel Advisors LLC acquired a new stake in T. Rowe Price QM U.S. Bond ETF in the third quarter valued at approximately $396,000. 1.86% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price QM U.S. Bond ETF

The T. Rowe Price QM U.S. Bond ETF (TAGG) is an exchange-traded fund that is based on the Bloomberg U.S. Aggregate Bond index. The ETF currently has 37.94m in AUM and 445 holdings. TAGG is an actively-managed fund that holds a wide array of USD-denominated investment-grade bonds with broad maturities. TAGG was launched on Sep 28, 2021 and is managed by T. Rowe Price.