49 Wealth Management LLC Cuts Stock Holdings in JPMorgan Equity Premium Income ETF $JEPI

49 Wealth Management LLC reduced its position in JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI) by 29.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,952 shares of the company’s stock after selling 33,558 shares during the period. JPMorgan Equity Premium Income ETF comprises approximately 0.4% of 49 Wealth Management LLC’s holdings, making the stock its 26th largest position. 49 Wealth Management LLC’s holdings in JPMorgan Equity Premium Income ETF were worth $4,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JEPI. Hamilton Capital LLC purchased a new position in shares of JPMorgan Equity Premium Income ETF in the second quarter worth $72,373,000. Bank of New York Mellon Corp increased its holdings in JPMorgan Equity Premium Income ETF by 191.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,708,349 shares of the company’s stock worth $97,120,000 after buying an additional 1,122,256 shares in the last quarter. RiverFront Investment Group LLC increased its holdings in JPMorgan Equity Premium Income ETF by 42.1% in the 2nd quarter. RiverFront Investment Group LLC now owns 2,903,847 shares of the company’s stock worth $165,084,000 after buying an additional 859,879 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in JPMorgan Equity Premium Income ETF by 602.3% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 956,167 shares of the company’s stock worth $54,358,000 after buying an additional 820,010 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in JPMorgan Equity Premium Income ETF by 2.1% during the 2nd quarter. Bank of America Corp DE now owns 33,372,182 shares of the company’s stock valued at $1,897,209,000 after acquiring an additional 690,960 shares during the period.

JPMorgan Equity Premium Income ETF Stock Performance

JEPI opened at $59.88 on Friday. The company’s 50-day simple moving average is $58.50 and its two-hundred day simple moving average is $57.51. The stock has a market capitalization of $44.13 billion, a P/E ratio of 23.93 and a beta of 0.60. JPMorgan Equity Premium Income ETF has a 52-week low of $49.94 and a 52-week high of $59.90.

JPMorgan Equity Premium Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were given a dividend of $0.3444 per share. The ex-dividend date was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 6.9%.

JPMorgan Equity Premium Income ETF Profile

The JPMorgan Equity Premium Income ETF (JEPI) is an exchange-traded fund that is based on the S&P 500 index. The fund is an actively-managed fund that invests in large-cap US stocks and equity-linked notes (ELNs). It seeks to provide similar returns as the S&P 500 Index with lower volatility and monthly income. JEPI was launched on May 20, 2020 and is managed by JPMorgan.