GMO U.S. Quality ETF (NYSEARCA:QLTY) Reaches New 12-Month High – Time to Buy?

Shares of GMO U.S. Quality ETF (NYSEARCA:QLTY) reached a new 52-week high on Wednesday. The company traded as high as $44.75 and last traded at $44.7810, with a volume of 84,655 shares changing hands. The stock had previously closed at $43.71.

GMO U.S. Quality ETF Stock Performance

The stock has a market cap of $5.60 billion, a PE ratio of 62.38 and a beta of 0.97. The company’s 50-day moving average price is $43.31 and its 200 day moving average price is $40.78.

GMO U.S. Quality ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Wednesday, September 30th were given a $0.0613 dividend. The ex-dividend date was Wednesday, September 30th. This is a drop from GMO U.S. Quality ETF’s previous quarterly dividend of $0.0754. This represents a $0.25 annualized dividend and a yield of 0.5%. GMO U.S. Quality ETF’s payout ratio is 38.89%.

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

Several institutional investors and hedge funds have recently bought and sold shares of QLTY. StoneX Group Inc. purchased a new stake in GMO U.S. Quality ETF in the third quarter worth about $2,000,000. Kestra Advisory Services LLC raised its stake in GMO U.S. Quality ETF by 6.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 15,603 shares of the company’s stock worth $668,000 after acquiring an additional 990 shares during the period. Hollow Brook Wealth Management LLC raised its stake in GMO U.S. Quality ETF by 5.9% during the 3rd quarter. Hollow Brook Wealth Management LLC now owns 76,981 shares of the company’s stock worth $3,300,000 after acquiring an additional 4,272 shares during the period. Aprio Wealth Management LLC purchased a new position in GMO U.S. Quality ETF during the third quarter valued at approximately $908,000. Finally, William Mack & Associates Inc. purchased a new position in GMO U.S. Quality ETF during the third quarter valued at approximately $170,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

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.