MLG Wealth Management DBA Pine Grove Financial Group boosted its position in JPMorgan Municipal ETF (NYSEARCA:JMUB – Free Report) by 9.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,140,151 shares of the company’s stock after buying an additional 98,965 shares during the quarter. JPMorgan Municipal ETF accounts for approximately 5.4% of MLG Wealth Management DBA Pine Grove Financial Group’s portfolio, making the stock its 4th biggest position. MLG Wealth Management DBA Pine Grove Financial Group’s holdings in JPMorgan Municipal ETF were worth $53,622,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Wellington Grp LLC grew its stake in shares of JPMorgan Municipal ETF by 572.0% during the first quarter. Wellington Grp LLC now owns 625 shares of the company’s stock valued at $31,000 after buying an additional 532 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in JPMorgan Municipal ETF during the 4th quarter valued at $34,000. Franklin Resources Inc. bought a new position in JPMorgan Municipal ETF in the 3rd quarter valued at $41,000. SHP Wealth Management purchased a new stake in JPMorgan Municipal ETF in the fourth quarter worth $47,000. Finally, Lavaca Capital LLC purchased a new stake in JPMorgan Municipal ETF in the fourth quarter worth $48,000.
JPMorgan Municipal ETF Stock Performance
NYSEARCA:JMUB opened at $48.98 on Tuesday. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 9.96 and a beta of 0.23. JPMorgan Municipal ETF has a twelve month low of $48.94 and a twelve month high of $51.34. The stock has a fifty day simple moving average of $49.89 and a 200-day simple moving average of $50.24.
About JPMorgan Municipal ETF
The JPMorgan Municipal ETF (JMUB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund holds an actively managed portfolio of various US municipal securities. JMUB was launched on Oct 29, 2018 and is managed by JPMorgan Chase.
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