U.S. Global Jets ETF (NYSEARCA:JETS) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

U.S. Global Jets ETF (NYSEARCA:JETS) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $28.31 and traded as high as $33.60. U.S. Global Jets ETF shares last traded at $33.23, with a volume of 1,544,601 shares changing hands.

U.S. Global Jets ETF Stock Performance

The firm has a fifty day simple moving average of $28.31 and a 200-day simple moving average of $27.86. The firm has a market cap of $958.69 million, a price-to-earnings ratio of 9.62 and a beta of 1.18.

Institutional Trading of U.S. Global Jets ETF

Hedge funds have recently modified their holdings of the stock. Flow Traders U.S. LLC bought a new stake in shares of U.S. Global Jets ETF during the 3rd quarter worth about $8,584,000. Quadrature Capital Ltd bought a new position in U.S. Global Jets ETF in the 3rd quarter valued at about $6,509,000. Quantitative Investment Management LLC acquired a new stake in U.S. Global Jets ETF during the fourth quarter worth approximately $3,833,000. Marshall Wace LLP acquired a new stake in U.S. Global Jets ETF during the fourth quarter worth approximately $1,677,000. Finally, Janney Montgomery Scott LLC lifted its position in U.S. Global Jets ETF by 9.8% during the first quarter. Janney Montgomery Scott LLC now owns 43,307 shares of the company’s stock worth $1,067,000 after acquiring an additional 3,871 shares during the last quarter.

About U.S. Global Jets ETF

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.