GMO U.S. Quality ETF (NYSEARCA:QLTY) Shares Cross Above 50 Day Moving Average – Here’s Why

GMO U.S. Quality ETF (NYSEARCA:QLTY)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $43.35 and traded as high as $44.34. GMO U.S. Quality ETF shares last traded at $44.24, with a volume of 40,627,668 shares changing hands.

GMO U.S. Quality ETF Trading Up 2.5%

The firm has a market capitalization of $5.56 billion, a P/E ratio of 61.44 and a beta of 0.95. The company’s fifty day simple moving average is $43.35 and its 200 day simple moving average is $40.87.

GMO U.S. Quality ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.0613 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a negative change from GMO U.S. Quality ETF’s previous quarterly dividend of $0.0754. GMO U.S. Quality ETF’s payout ratio is presently 38.89%.

Hedge Funds Weigh In On GMO U.S. Quality ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in GMO U.S. Quality ETF by 2,089.2% in the third quarter. GAMMA Investing LLC now owns 810 shares of the company’s stock worth $35,000 after buying an additional 773 shares in the last quarter. Royal Bank of Canada boosted its position in GMO U.S. Quality ETF by 174.5% during the 1st quarter. Royal Bank of Canada now owns 1,268 shares of the company’s stock valued at $45,000 after acquiring an additional 806 shares in the last quarter. William Mack & Associates Inc. bought a new stake in GMO U.S. Quality ETF during the 3rd quarter valued at approximately $170,000. QRG Capital Management Inc. bought a new stake in GMO U.S. Quality ETF during the 2nd quarter valued at approximately $216,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of 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 during the period. Hedge funds and other institutional investors 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.