Short Interest in JPMorgan U.S. Value Factor ETF (NYSEARCA:JVAL) Drops By 39.3%
by Doug Wharley · The Cerbat GemJPMorgan U.S. Value Factor ETF (NYSEARCA:JVAL – Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 51,422 shares, a drop of 39.3% from the August 15th total of 84,664 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 99,209 shares, the short-interest ratio is currently 0.5 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in JPMorgan U.S. Value Factor ETF in the first quarter valued at about $37,000. Western Wealth Management LLC purchased a new position in shares of JPMorgan U.S. Value Factor ETF in the 1st quarter worth approximately $45,000. Fifth Third Bancorp bought a new position in shares of JPMorgan U.S. Value Factor ETF during the 1st quarter worth approximately $140,000. Geneos Wealth Management Inc. lifted its position in JPMorgan U.S. Value Factor ETF by 22.4% during the first quarter. Geneos Wealth Management Inc. now owns 3,180 shares of the company’s stock valued at $155,000 after acquiring an additional 581 shares during the last quarter. Finally, Kintra Wealth LLC acquired a new stake in JPMorgan U.S. Value Factor ETF in the second quarter valued at approximately $217,000.
JPMorgan U.S. Value Factor ETF Trading Up 0.1%
Shares of JVAL traded up $0.08 during mid-day trading on Wednesday, hitting $58.93. The company’s stock had a trading volume of 10,645 shares, compared to its average volume of 69,920. The company’s 50-day moving average is $58.89 and its 200-day moving average is $55.59. JPMorgan U.S. Value Factor ETF has a 52-week low of $45.91 and a 52-week high of $60.64. The firm has a market capitalization of $851.58 million, a price-to-earnings ratio of 16.37 and a beta of 0.96.
About JPMorgan U.S. Value Factor ETF
The JPMorgan U.S. Value Factor ETF (JVAL) is an exchange-traded fund that is based on the JP Morgan US Value Factor index. The fund tracks an index of large-cap US equities that are selected and weighted by four relative valuation factors: book yield, earnings yield, dividend yield and cash flow yield. JVAL was launched on Nov 8, 2017 and is managed by JPMorgan Chase.