JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Hits New 12-Month High – Still a Buy?

Shares of JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) hit a new 52-week high during trading on Friday . The stock traded as high as $50.75 and last traded at $50.75, with a volume of 173932 shares changing hands. The stock had previously closed at $50.72.

JPMorgan Ultra-Short Income ETF Price Performance

The company’s fifty day moving average price is $50.60 and its 200 day moving average price is $50.54. The company has a market cap of $32.40 billion, a PE ratio of 110.30 and a beta of 0.03.

Institutional Trading of JPMorgan Ultra-Short Income ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. NewSquare Capital LLC raised its holdings in shares of JPMorgan Ultra-Short Income ETF by 158.2% in the first quarter. NewSquare Capital LLC now owns 24,220 shares of the company’s stock valued at $1,226,000 after purchasing an additional 14,838 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of JPMorgan Ultra-Short Income ETF by 10.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,588,353 shares of the company’s stock valued at $282,938,000 after purchasing an additional 506,315 shares during the last quarter. Stone Summit Wealth LLC raised its holdings in shares of JPMorgan Ultra-Short Income ETF by 32.9% in the first quarter. Stone Summit Wealth LLC now owns 43,236 shares of the company’s stock valued at $2,189,000 after purchasing an additional 10,713 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of JPMorgan Ultra-Short Income ETF by 288.2% in the fourth quarter. Focus Partners Wealth now owns 539,112 shares of the company’s stock valued at $27,391,000 after purchasing an additional 400,239 shares during the last quarter. Finally, Tiemann Investment Advisors LLC raised its holdings in shares of JPMorgan Ultra-Short Income ETF by 9.3% in the first quarter. Tiemann Investment Advisors LLC now owns 135,537 shares of the company’s stock valued at $6,862,000 after purchasing an additional 11,570 shares during the last quarter. Hedge funds and other institutional investors 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.