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

GMO U.S. Quality ETF (NYSEARCA:QLTY) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.18 and last traded at $43.18, with a volume of 1118 shares trading hands. The stock had previously closed at $42.86.

GMO U.S. Quality ETF Price Performance

The company has a market cap of $5.03 billion, a price-to-earnings ratio of 60.10 and a beta of 0.96. The business has a 50 day simple moving average of $41.44 and a 200 day simple moving average of $39.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QLTY. Royal Bank of Canada raised 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 worth $45,000 after acquiring an additional 806 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of GMO U.S. Quality ETF by 3.8% in the first quarter. Sunbelt Securities Inc. now owns 6,765 shares of the company’s stock valued at $245,000 after purchasing an additional 250 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of GMO U.S. Quality ETF in the first quarter valued at approximately $485,000. Chemistry Wealth Management LLC raised its position in GMO U.S. Quality ETF by 22.9% in the 2nd quarter. Chemistry Wealth Management LLC now owns 12,018 shares of the company’s stock worth $500,000 after purchasing an additional 2,239 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in GMO U.S. Quality ETF by 77.5% in the 1st quarter. Kestra Advisory Services LLC now owns 14,908 shares of the company’s stock worth $539,000 after purchasing an additional 6,510 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

About GMO U.S. Quality ETF

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.