Procure Space ETF (NASDAQ:UFO) Shares Gap Down – Time to Sell?

Procure Space ETF (NASDAQ:UFO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $67.81, but opened at $65.06. Procure Space ETF shares last traded at $63.85, with a volume of 893,791 shares changing hands.

Procure Space ETF Stock Performance

The stock has a market capitalization of $932.91 million, a P/E ratio of 18.98 and a beta of 1.23. The firm has a 50-day moving average price of $52.61 and a 200 day moving average price of $45.09.

Hedge Funds Weigh In On Procure Space ETF

Several institutional investors have recently modified their holdings of UFO. Foundations Investment Advisors LLC bought a new position in shares of Procure Space ETF during the 3rd quarter valued at about $3,126,000. Quadrature Capital Ltd purchased a new stake in shares of Procure Space ETF in the 4th quarter valued at $3,382,000. Rockport Wealth LLC purchased a new stake in shares of Procure Space ETF in the 4th quarter valued at $2,782,000. Bank of America Corp DE boosted its stake in shares of Procure Space ETF by 1,590.5% in the 1st quarter. Bank of America Corp DE now owns 65,590 shares of the company’s stock valued at $2,939,000 after purchasing an additional 61,710 shares in the last quarter. Finally, WT Wealth Management purchased a new stake in shares of Procure Space ETF in the 1st quarter valued at $2,732,000.

About Procure Space ETF

The Procure Space ETF (UFO) is an exchange-traded fund that is based on the S-Network Space index. The fund tracks a tier-weighted index of aerospace companies located globally. UFO was launched on Apr 11, 2019 and is managed by ProcureAM.