JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Sees Large Drop in Short Interest

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 48,600 shares, a decrease of 15.7% from the February 26th total of 57,640 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 123,061 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Federation des caisses Desjardins du Quebec purchased a new position in JPMorgan U.S. Momentum Factor ETF in the 4th quarter valued at about $39,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of JPMorgan U.S. Momentum Factor ETF during the third quarter worth about $44,000. Smartleaf Asset Management LLC raised its position in shares of JPMorgan U.S. Momentum Factor ETF by 334.8% in the second quarter. Smartleaf Asset Management LLC now owns 687 shares of the company’s stock valued at $44,000 after buying an additional 529 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of JPMorgan U.S. Momentum Factor ETF during the third quarter valued at approximately $51,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of JPMorgan U.S. Momentum Factor ETF during the fourth quarter valued at approximately $53,000.

JPMorgan U.S. Momentum Factor ETF Stock Performance

JPMorgan U.S. Momentum Factor ETF stock opened at $66.49 on Monday. JPMorgan U.S. Momentum Factor ETF has a fifty-two week low of $48.68 and a fifty-two week high of $71.65. The stock has a fifty day moving average of $70.00 and a two-hundred day moving average of $68.89. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 27.64 and a beta of 1.04.

About JPMorgan U.S. Momentum Factor ETF

The JPMorgan U.S. Momentum Factor ETF (JMOM) is an exchange-traded fund that is based on the JP Morgan US Momentum Factor index. The fund tracks an index of US large-cap companies with strong momentum, weighted by optimized market-cap. JMOM was launched on Nov 8, 2017 and is managed by JPMorgan Chase.