U.S. Global Jets ETF (NYSEARCA:JETS) Sees Strong Trading Volume – Still a Buy?

Shares of U.S. Global Jets ETF (NYSEARCA:JETS) saw unusually-strong trading volume on Friday . Approximately 5,005,097 shares changed hands during trading, an increase of 170% from the previous session’s volume of 1,854,514 shares.The stock last traded at $24.71 and had previously closed at $25.67.

U.S. Global Jets ETF Stock Down 4.0 %

The stock has a fifty day moving average price of $25.78 and a two-hundred day moving average price of $22.83. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 26.39 and a beta of 1.18.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC acquired a new position in U.S. Global Jets ETF in the fourth quarter valued at about $25,000. Avior Wealth Management LLC raised its position in shares of U.S. Global Jets ETF by 656.8% in the 4th quarter. Avior Wealth Management LLC now owns 1,438 shares of the company’s stock valued at $36,000 after buying an additional 1,248 shares in the last quarter. Sims Investment Management LLC bought a new stake in shares of U.S. Global Jets ETF during the 4th quarter worth approximately $49,000. Pinnacle Holdings LLC acquired a new stake in shares of U.S. Global Jets ETF during the 4th quarter worth approximately $69,000. Finally, Roxbury Financial LLC acquired a new stake in shares of U.S. Global Jets ETF during the 4th quarter worth approximately $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.