JPMorgan Ultra-Short Municipal ETF (BATS:JMST) Reaches New 52-Week High – Here’s Why

JPMorgan Ultra-Short Municipal ETF (BATS:JMST)’s stock price reached a new 52-week high on Friday . The company traded as high as $51.13 and last traded at $51.13, with a volume of 473226 shares changing hands. The stock had previously closed at $51.09.

JPMorgan Ultra-Short Municipal ETF Stock Performance

The stock has a 50-day moving average price of $51.02 and a 200-day moving average price of $50.98.

JPMorgan Ultra-Short Municipal ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.097 per share. The ex-dividend date was Monday, February 2nd. This represents a c) annualized dividend and a yield of 2.3%.

Hedge Funds Weigh In On JPMorgan Ultra-Short Municipal ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. HB Wealth Management LLC increased its stake in shares of JPMorgan Ultra-Short Municipal ETF by 173.7% in the third quarter. HB Wealth Management LLC now owns 1,733,119 shares of the company’s stock worth $88,458,000 after buying an additional 1,099,860 shares during the last quarter. Sage Mountain Advisors LLC acquired a new position in JPMorgan Ultra-Short Municipal ETF during the 4th quarter worth $30,055,000. Northwestern Mutual Wealth Management Co. grew its holdings in JPMorgan Ultra-Short Municipal ETF by 14.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,612,505 shares of the company’s stock worth $183,949,000 after acquiring an additional 464,869 shares in the last quarter. Bank of America Corp DE raised its stake in shares of JPMorgan Ultra-Short Municipal ETF by 13.8% in the 3rd quarter. Bank of America Corp DE now owns 3,786,554 shares of the company’s stock valued at $193,266,000 after purchasing an additional 460,157 shares in the last quarter. Finally, Interchange Capital Partners LLC raised its stake in shares of JPMorgan Ultra-Short Municipal ETF by 185.1% in the 2nd quarter. Interchange Capital Partners LLC now owns 694,420 shares of the company’s stock valued at $35,360,000 after purchasing an additional 450,882 shares in the last quarter.

JPMorgan Ultra-Short Municipal ETF Company Profile

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.