JETS ETF Takes Off Amid Improving Airline Industry Data

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May 9, 2017 10:41am NYSE:JETS

NYSE:JETS | News, Ratings, and Charts

The U.S. Global Jets ETF (NYSE:JETS) jumped to a new 52-week high Tuesday morning, following bullish news from one of the nation’s largest airline carriers.

American Airlines boosted its TRASM guidance this morning, as April passenger volumes jumped from last year:

The Fort Worth, TX-based airline carrier said that revenue passenger miles gained 3.1% to 18.6 billion last month. Domestic revenue passenger miles (RPMs) fell 0.8%, but Pacific RPMs surged 28%.

Looking ahead, AAL forecast Q2 revenue per available seat mile (TRASM) to be up between 3.5% to 5.5%. That’s ahead of a prior view for TRASM growth of 3.0% to 5.0%.

The news sent American Airlines shares surging over three percent, with several of its competitors getting a rub from the move as well. Delta shares were up 2.3%, United was up 4.4%, JetBlue gained 2.15%, and Southwest rose 1.3% in Tuesday morning trading.

The only pure play airline exchange traded fund, U.S. Global Jets ETF (NYSE:JETS), naturally followed suit as well. JETS was trading at $29.99 per share on Tuesday morning, up $0.48 (+1.63%). Year-to-date, JETS has now gained 7.61%, versus a 7.42% rise in the benchmark S&P 500 index during the same period, and hitting a fresh 52-week high in the process.

Launched two years ago by U.S. Global Investors, JETS “provides investors access to the global airline industry, including airline operators and manufacturers from all over the world,” according to fund literature. The ETF has attracted over $72 million in assets since its debut back in May 2015.

JETS currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #22 of 34 ETFs in the Industrials Equities ETFs category.

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