JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Sets New 12-Month High – Time to Buy?

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $70.98 and last traded at $70.88, with a volume of 201640 shares. The stock had previously closed at $70.40.

JPMorgan U.S. Momentum Factor ETF Stock Up 0.7%

The stock’s fifty day simple moving average is $68.87 and its two-hundred day simple moving average is $67.36. The firm has a market cap of $1.89 billion, a PE ratio of 27.64 and a beta of 1.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JMOM. Smartleaf Asset Management LLC grew its stake in shares of JPMorgan U.S. Momentum Factor ETF by 334.8% in the second quarter. Smartleaf Asset Management LLC now owns 687 shares of the company’s stock worth $44,000 after acquiring an additional 529 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in JPMorgan U.S. Momentum Factor ETF during the 3rd quarter valued at about $44,000. Abich Financial Wealth Management LLC purchased a new stake in JPMorgan U.S. Momentum Factor ETF during the 3rd quarter valued at about $51,000. Fifth Third Bancorp bought a new stake in JPMorgan U.S. Momentum Factor ETF during the 3rd quarter valued at about $55,000. Finally, Root Financial Partners LLC purchased a new position in JPMorgan U.S. Momentum Factor ETF in the third quarter worth about $87,000.

About JPMorgan U.S. Momentum Factor ETF

The JPMorgan U.S. Momentum Factor ETF (JMOM) is an exchange-traded fund that is based on the JP Morgan US Momentum Factor index. The fund tracks an index of US large-cap companies with strong momentum, weighted by optimized market-cap. JMOM was launched on Nov 8, 2017 and is managed by JPMorgan Chase.