Hartford Financial Management Inc. Makes New $6.15 Million Investment in GMO U.S. Quality ETF $QLTY

Hartford Financial Management Inc. purchased a new position in shares of GMO U.S. Quality ETF (NYSEARCA:QLTY) during the third quarter, Holdings Channel reports. The institutional investor purchased 143,729 shares of the company’s stock, valued at approximately $6,153,000. GMO U.S. Quality ETF makes up approximately 1.4% of Hartford Financial Management Inc.’s portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Sunbelt Securities Inc. boosted its holdings in shares of GMO U.S. Quality ETF by 3.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,765 shares of the company’s stock valued at $245,000 after buying an additional 250 shares in the last quarter. KFG Wealth Management LLC increased its holdings in shares of GMO U.S. Quality ETF by 3.3% in the second quarter. KFG Wealth Management LLC now owns 10,607 shares of the company’s stock valued at $441,000 after purchasing an additional 342 shares during the period. GAMMA Investing LLC lifted its stake in GMO U.S. Quality ETF by 2,089.2% during the 3rd quarter. GAMMA Investing LLC now owns 810 shares of the company’s stock valued at $35,000 after acquiring an additional 773 shares during the period. Royal Bank of Canada grew 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 worth $45,000 after purchasing an additional 806 shares during the period. Finally, Arete Wealth Advisors LLC lifted its holdings in GMO U.S. Quality ETF by 4.6% in the first quarter. Arete Wealth Advisors LLC now owns 40,475 shares of the company’s stock valued at $1,465,000 after acquiring an additional 1,785 shares during the period. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

GMO U.S. Quality ETF Stock Down 0.2%

QLTY stock opened at $44.05 on Thursday. The firm has a market cap of $5.45 billion, a P/E ratio of 61.18 and a beta of 0.97. The company’s 50-day simple moving average is $43.18 and its 200-day simple moving average is $41.62. GMO U.S. Quality ETF has a 52-week low of $35.15 and a 52-week high of $44.37.

GMO U.S. Quality ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Wednesday, September 30th were issued a $0.0613 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date 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 currently 38.89%.

GMO U.S. Quality ETF 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.