JPMorgan Income ETF (NYSEARCA:JPIE) Hits New 12-Month Low – What’s Next?

JPMorgan Income ETF (NYSEARCA:JPIE) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $45.68 and last traded at $45.70, with a volume of 135080 shares changing hands. The stock had previously closed at $45.84.

JPMorgan Income ETF Price Performance

The company has a 50-day moving average price of $45.92 and a 200 day moving average price of $46.10.

Hedge Funds Weigh In On JPMorgan Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPIE. Steinberganna Wealth Management raised its holdings in JPMorgan Income ETF by 1.8% in the fourth quarter. Steinberganna Wealth Management now owns 13,806 shares of the company’s stock worth $639,000 after purchasing an additional 246 shares in the last quarter. Fagan Associates Inc. boosted its holdings in shares of JPMorgan Income ETF by 3.3% in the 4th quarter. Fagan Associates Inc. now owns 7,775 shares of the company’s stock valued at $360,000 after buying an additional 250 shares in the last quarter. Summit Wealth Partners LLC grew its position in shares of JPMorgan Income ETF by 3.9% in the 4th quarter. Summit Wealth Partners LLC now owns 7,012 shares of the company’s stock worth $325,000 after buying an additional 260 shares during the last quarter. Archer Investment Corp grew its position in shares of JPMorgan Income ETF by 9.1% in the 1st quarter. Archer Investment Corp now owns 3,577 shares of the company’s stock worth $165,000 after buying an additional 297 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its stake in shares of JPMorgan Income ETF by 3.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 10,006 shares of the company’s stock worth $463,000 after acquiring an additional 300 shares in the last quarter.

About JPMorgan Income ETF

The JPMorgan Income ETF (JPIE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively-managed fund that allocates exposure among various fixed income markets and sectors. The fund seeks to provide yield with lower volatility and aims to generate monthly distributions. JPIE was launched on Oct 28, 2021 and is managed by JPMorgan Chase.