JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Sees Large Drop in Short Interest

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 2,586,535 shares, a decline of 49.5% from the December 31st total of 5,117,069 shares. Based on an average trading volume of 6,834,765 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.4% of the shares of the stock are sold short. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 6,834,765 shares, the days-to-cover ratio is presently 0.4 days.

JPMorgan Ultra-Short Income ETF Stock Up 0.1%

Shares of JPST traded up $0.03 during trading hours on Friday, reaching $50.78. 18,303,822 shares of the company traded hands, compared to its average volume of 7,159,475. The stock has a market capitalization of $36.43 billion, a PE ratio of 110.39 and a beta of 0.01. The stock has a fifty day simple moving average of $50.68 and a 200 day simple moving average of $50.66. JPMorgan Ultra-Short Income ETF has a fifty-two week low of $50.30 and a fifty-two week high of $50.79.

Hedge Funds Weigh In On JPMorgan Ultra-Short Income ETF

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of JPMorgan Ultra-Short Income ETF by 8.8% in the third quarter. JPMorgan Chase & Co. now owns 96,742,823 shares of the company’s stock worth $4,907,764,000 after acquiring an additional 7,786,258 shares during the last quarter. Temasek Holdings Private Ltd purchased a new position in JPMorgan Ultra-Short Income ETF during the third quarter worth approximately $300,296,000. Bank of America Corp DE boosted its holdings in shares of JPMorgan Ultra-Short Income ETF by 15.3% in the 2nd quarter. Bank of America Corp DE now owns 16,306,977 shares of the company’s stock valued at $826,438,000 after purchasing an additional 2,162,615 shares during the last quarter. RiverFront Investment Group LLC grew its stake in shares of JPMorgan Ultra-Short Income ETF by 941.7% during the 2nd quarter. RiverFront Investment Group LLC now owns 1,258,877 shares of the company’s stock valued at $63,800,000 after buying an additional 1,138,031 shares during the period. Finally, Foster Dykema Cabot & Partners LLC increased its holdings in shares of JPMorgan Ultra-Short Income ETF by 42.2% during the 2nd quarter. Foster Dykema Cabot & Partners LLC now owns 3,814,842 shares of the company’s stock worth $193,336,000 after buying an additional 1,132,264 shares during the last quarter. Institutional investors and hedge funds own 2.17% of the company’s stock.

About JPMorgan Ultra-Short Income ETF

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.