U.S. Global Jets ETF (NYSEARCA:JETS) Stock Price Passes Below 50-Day Moving Average – What’s Next?

U.S. Global Jets ETF (NYSEARCA:JETS)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $24.55 and traded as low as $22.13. U.S. Global Jets ETF shares last traded at $22.32, with a volume of 1,999,573 shares changing hands.

U.S. Global Jets ETF Price Performance

The company has a market cap of $922.93 million, a price-to-earnings ratio of 11.31 and a beta of 1.36. The company’s 50-day simple moving average is $24.55 and its 200-day simple moving average is $23.71.

Institutional Investors Weigh In On U.S. Global Jets ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JETS. Kohmann Bosshard Financial Services LLC purchased a new stake in U.S. Global Jets ETF during the 4th quarter worth approximately $25,000. Avior Wealth Management LLC increased its stake in shares of U.S. Global Jets ETF by 656.8% in the fourth quarter. Avior Wealth Management LLC now owns 1,438 shares of the company’s stock worth $36,000 after buying an additional 1,248 shares during the last quarter. Sims Investment Management LLC acquired a new stake in U.S. Global Jets ETF in the fourth quarter valued at $49,000. Pinnacle Holdings LLC acquired a new stake in U.S. Global Jets ETF in the fourth quarter valued at $69,000. Finally, Roxbury Financial LLC bought a new position in U.S. Global Jets ETF during the 4th quarter valued at $73,000.

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.