Procure Space ETF (NASDAQ:UFO) Sees Strong Trading Volume – Here’s Why

Shares of Procure Space ETF (NASDAQ:UFO) saw unusually-strong 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 Trading Down 7.0%

The company has a market cap of $768.40 million, a P/E ratio of 18.98 and a beta of 1.30. The stock’s 50 day moving average is $55.18 and its 200-day moving average is $46.85.

Hedge Funds Weigh In On Procure Space ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC lifted its stake in Procure Space ETF by 10.8% during the 4th quarter. LPL Financial LLC now owns 6,469 shares of the company’s stock valued at $250,000 after acquiring an additional 629 shares during the period. Global Retirement Partners LLC bought a new position in Procure Space ETF during the 4th quarter valued at about $30,000. Composition Wealth LLC lifted its stake in Procure Space ETF by 13.5% during the 4th quarter. Composition Wealth LLC now owns 7,800 shares of the company’s stock valued at $301,000 after acquiring an additional 930 shares during the period. Banque Cantonale Vaudoise bought a new position in Procure Space ETF during the 1st quarter valued at about $42,000. Finally, Evolution Wealth Management Inc. bought a new position in Procure Space ETF during the 1st quarter valued at about $46,000.

Procure Space ETF Company Profile

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.