JPMorgan Ultra-Short Municipal ETF (BATS:JMST) Hits New 12-Month Low – Here’s Why

JPMorgan Ultra-Short Municipal ETF (BATS:JMST) reached a new 52-week low during trading on Monday . The company traded as low as $50.82 and last traded at $50.83, with a volume of 54428 shares. The stock had previously closed at $50.91.

JPMorgan Ultra-Short Municipal ETF Stock Performance

The company’s 50 day moving average price is $50.92 and its 200-day moving average price is $50.97.

Hedge Funds Weigh In On JPMorgan Ultra-Short Municipal ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JMST. Allspring Global Investments Holdings LLC bought a new position in JPMorgan Ultra-Short Municipal ETF in the 1st quarter worth approximately $36,000. US Bancorp DE boosted its holdings in shares of JPMorgan Ultra-Short Municipal ETF by 130.6% in the third quarter. US Bancorp DE now owns 1,153 shares of the company’s stock worth $59,000 after acquiring an additional 653 shares during the period. Godfrey Financial Associates Inc. purchased a new position in shares of JPMorgan Ultra-Short Municipal ETF in the fourth quarter valued at $71,000. MidAtlantic Capital Management Inc. bought a new stake in shares of JPMorgan Ultra-Short Municipal ETF during the 4th quarter valued at $80,000. Finally, Core Wealth Advisors LLC purchased a new stake in JPMorgan Ultra-Short Municipal ETF during the 4th quarter worth about $83,000.

About JPMorgan Ultra-Short Municipal ETF

The JPMorgan Ultra-Short Municipal Income ETF (JMST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed portfolio of US municipal bonds with a weighted average maturity of two years or less. JMST was launched on Oct 16, 2018 and is managed by JPMorgan Chase.