U.S. Global Jets ETF (NYSEARCA:JETS) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

U.S. Global Jets ETF (NYSEARCA:JETS) shares crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $29.12 and traded as low as $26.55. U.S. Global Jets ETF shares last traded at $26.80, with a volume of 5,144,891 shares trading hands.

U.S. Global Jets ETF Trading Down 0.8%

The company has a 50 day moving average price of $29.12 and a 200 day moving average price of $28.81. The company has a market capitalization of $778.54 million, a P/E ratio of 9.62 and a beta of 1.22.

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

Several hedge funds have recently added to or reduced their stakes in JETS. Ibex Wealth Advisors acquired a new position in shares of U.S. Global Jets ETF during the 1st quarter worth $323,000. Rathbones Group PLC bought a new stake in shares of U.S. Global Jets ETF during the 1st quarter worth $228,000. Highland Investment Advisors LLC bought a new stake in shares of U.S. Global Jets ETF during the 2nd quarter worth $167,000. AdvisorNet Financial Inc boosted its stake in U.S. Global Jets ETF by 1,730.9% in the first quarter. AdvisorNet Financial Inc now owns 4,980 shares of the company’s stock valued at $123,000 after buying an additional 4,708 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in U.S. Global Jets ETF by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 43,307 shares of the company’s stock valued at $1,067,000 after buying an additional 3,871 shares in 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.