JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Hits New 12-Month High – Here’s Why

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $50.78 and last traded at $50.7750, with a volume of 10762755 shares traded. The stock had previously closed at $50.75.

JPMorgan Ultra-Short Income ETF Price Performance

The company’s fifty day simple moving average is $50.67 and its 200-day simple moving average is $50.66. The firm has a market capitalization of $36.43 billion, a PE ratio of 110.38 and a beta of 0.01.

Institutional Investors Weigh In On JPMorgan Ultra-Short Income ETF

A number of large investors have recently modified their holdings of JPST. JPMorgan Chase & Co. boosted its stake in JPMorgan Ultra-Short Income ETF by 8.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,742,823 shares of the company’s stock worth $4,907,764,000 after purchasing an additional 7,786,258 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of JPMorgan Ultra-Short Income ETF by 15.3% during the second quarter. Bank of America Corp DE now owns 16,306,977 shares of the company’s stock worth $826,438,000 after buying an additional 2,162,615 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of JPMorgan Ultra-Short Income ETF by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,093,296 shares of the company’s stock valued at $562,208,000 after buying an additional 94,082 shares during the last quarter. UBS Group AG increased its holdings in shares of JPMorgan Ultra-Short Income ETF by 5.9% in the fourth quarter. UBS Group AG now owns 9,469,398 shares of the company’s stock valued at $479,057,000 after purchasing an additional 531,080 shares during the period. Finally, HB Wealth Management LLC increased its holdings in JPMorgan Ultra-Short Income ETF by 1.5% in the 4th quarter. HB Wealth Management LLC now owns 9,443,109 shares of the company’s stock worth $475,272,000 after buying an additional 140,546 shares during the period. Hedge funds and other institutional investors own 2.17% of the company’s stock.

JPMorgan Ultra-Short Income ETF Company Profile

The JPMorgan Ultra-Short Income ETF (JPST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that aims to maximize income and preserve capital using USD-denominated debt securities with an effective duration of one year or less. JPST was launched on May 17, 2017 and is managed by JPMorgan Chase.