GMO U.S. Quality ETF (NYSEARCA:QLTY) Hits New 52-Week High – Still a Buy?

GMO U.S. Quality ETF (NYSEARCA:QLTY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $41.25 and last traded at $41.23, with a volume of 24037 shares trading hands. The stock had previously closed at $41.02.

GMO U.S. Quality ETF Trading Up 0.5%

The company has a 50 day moving average price of $38.61 and a 200 day moving average price of $38.52. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 57.26 and a beta of 0.99.

Institutional Investors Weigh In On GMO U.S. Quality ETF

A number of institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC grew its stake in shares of GMO U.S. Quality ETF by 1,078.9% during the first quarter. HB Wealth Management LLC now owns 5,905,175 shares of the company’s stock worth $213,642,000 after purchasing an additional 5,404,269 shares during the period. Lazard Asset Management LLC grew its stake in shares of GMO U.S. Quality ETF by 3.8% during the first quarter. Lazard Asset Management LLC now owns 2,597,522 shares of the company’s stock worth $94,011,000 after purchasing an additional 96,253 shares during the period. Modern Wealth Management LLC grew its stake in shares of GMO U.S. Quality ETF by 11,962.7% during the first quarter. Modern Wealth Management LLC now owns 1,040,532 shares of the company’s stock worth $38,073,000 after purchasing an additional 1,031,906 shares during the period. CENTRAL TRUST Co grew its stake in shares of GMO U.S. Quality ETF by 35.7% during the first quarter. CENTRAL TRUST Co now owns 820,980 shares of the company’s stock worth $29,703,000 after purchasing an additional 215,930 shares during the period. Finally, Colony Family Offices LLC grew its stake in shares of GMO U.S. Quality ETF by 7.9% during the first quarter. Colony Family Offices LLC now owns 487,099 shares of the company’s stock worth $17,653,000 after purchasing an additional 35,746 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.

GMO U.S. Quality ETF Company 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.