JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Sees Large Decline in Short Interest
by Doug Wharley · The Cerbat GemJPMorgan Ultra-Short Income ETF (NYSEARCA:JPST – Get Free Report) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 122,184 shares, a decline of 94.4% from the March 31st total of 2,181,215 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 7,504,369 shares, the days-to-cover ratio is presently 0.0 days.
Institutional Trading of JPMorgan Ultra-Short Income ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPST. Millennium Management LLC raised its position in JPMorgan Ultra-Short Income ETF by 23.0% in the first quarter. Millennium Management LLC now owns 248,373 shares of the company’s stock valued at $12,575,000 after purchasing an additional 46,400 shares during the period. Goldman Sachs Group Inc. purchased a new stake in JPMorgan Ultra-Short Income ETF in the first quarter valued at approximately $3,603,000. EverSource Wealth Advisors LLC raised its position in JPMorgan Ultra-Short Income ETF by 99.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the company’s stock valued at $50,000 after purchasing an additional 496 shares during the period. First Trust Advisors LP purchased a new stake in JPMorgan Ultra-Short Income ETF in the second quarter valued at approximately $203,000. Finally, Brown Advisory Inc. raised its position in JPMorgan Ultra-Short Income ETF by 7.6% in the second quarter. Brown Advisory Inc. now owns 6,113 shares of the company’s stock valued at $310,000 after purchasing an additional 431 shares during the period. Hedge funds and other institutional investors own 2.17% of the company’s stock.
JPMorgan Ultra-Short Income ETF Price Performance
Shares of JPST stock traded up $0.03 during trading on Friday, hitting $50.60. 4,783,827 shares of the stock traded hands, compared to its average volume of 6,886,651. The firm has a market capitalization of $37.64 billion, a P/E ratio of 110.00 and a beta of 0.01. JPMorgan Ultra-Short Income ETF has a 52-week low of $50.41 and a 52-week high of $50.79. The firm’s fifty day moving average price is $50.58 and its 200-day moving average price is $50.64.
JPMorgan Ultra-Short Income ETF Cuts Dividend
The company also recently announced a monthly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, February 2nd were given a $0.172 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 4.1%. JPMorgan Ultra-Short Income ETF’s payout ratio is presently 473.91%.
JPMorgan Ultra-Short Income ETF Company Profile
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.