GMO U.S. Quality ETF (NYSEARCA:QLTY) Reaches New 1-Year High – Should You Buy?

GMO U.S. Quality ETF (NYSEARCA:QLTY)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $41.76 and last traded at $41.76, with a volume of 1651 shares trading hands. The stock had previously closed at $41.05.

GMO U.S. Quality ETF Trading Up 1.6%

The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 58.13 and a beta of 0.98. The firm’s fifty day moving average price is $39.93 and its 200 day moving average price is $38.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QLTY. Royal Bank of Canada grew its stake in shares of GMO U.S. Quality ETF by 174.5% in the first quarter. Royal Bank of Canada now owns 1,268 shares of the company’s stock valued at $45,000 after buying an additional 806 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in GMO U.S. Quality ETF by 3.8% during the 1st quarter. Sunbelt Securities Inc. now owns 6,765 shares of the company’s stock worth $245,000 after acquiring an additional 250 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in GMO U.S. Quality ETF during the 1st quarter valued at about $485,000. Kestra Advisory Services LLC boosted its holdings in GMO U.S. Quality ETF by 77.5% during the 1st quarter. Kestra Advisory Services LLC now owns 14,908 shares of the company’s stock valued at $539,000 after acquiring an additional 6,510 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in GMO U.S. Quality ETF in the 1st quarter valued at about $583,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

GMO U.S. Quality ETF Company Profile

The GMO U.S. Quality ETF (QLTY) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that focuses on equities of high-quality US companies. The funds investments may include companies of any market capitalization. QLTY was launched on Nov 13, 2023 and is issued by GMO.