Investors have made a significant move in the U.S. Global Jets ETF (NYSEARCA:JETS) by purchasing a remarkable 42,142 put options on Wednesday. This trading volume represents an increase of 226% compared to the average of 12,911 put options typically traded. The surge in options activity comes as the ETF’s shares have shown a slight uptick of 0.7% recently.
On Friday, shares of U.S. Global Jets opened at $28.25. Over the past year, the ETF has experienced a low of $17.11 and a high of $28.41. The fund’s 50-day moving average stands at $25.39, while the 200-day moving average is $24.72. Currently, the U.S. Global Jets ETF boasts a market capitalization of $922.36 million, a price-to-earnings (P/E) ratio of 9.62, and a beta of 1.33.
Institutional Investors Increase Holdings
Several hedge funds and institutional investors have been active in the U.S. Global Jets ETF recently, adjusting their positions amid changing market dynamics. For instance, Janney Montgomery Scott LLC has increased its stake in the ETF by 3.7% during the second quarter, now holding 12,617 shares valued at approximately $290,000 after acquiring an additional 450 shares.
Similarly, NewEdge Advisors LLC expanded its position by 18.8% in the first quarter, owning 3,164 shares worth $66,000 after purchasing an extra 500 shares. RPg Family Wealth Advisory LLC also increased its holdings by 3.1% during the second quarter, now owning 28,288 shares valued at $650,000.
Other notable increases include Leuthold Group LLC, which raised its stake by 2.6%, bringing its total to 53,461 shares worth about $1,228,000. OLD Mission Capital LLC made a substantial adjustment, lifting its stake by 454.0% in the first quarter to now own 48,719 shares valued at $1,012,000 after acquiring an additional 39,925 shares.
About the U.S. Global Jets ETF
The U.S. Global Jets ETF (JETS) is an exchange-traded fund that tracks the Stuttgart US Global Jets (USD) index. It invests in both U.S. and international airline companies, with a focus on domestic passenger airlines. Launched on April 28, 2015, the ETF is managed by U.S. Global Investors, aimed at providing exposure to the airline sector amidst fluctuating market conditions.
As trading activity increases around the U.S. Global Jets ETF, market observers will be closely monitoring how these changes affect the fund’s trajectory and investor sentiment in the airline industry.
