Pinnacle Wealth Management LLC Has $9.37 Million Stake in JPMorgan Equity Premium Income ETF $JEPI

Pinnacle Wealth Management LLC raised its stake in JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI) by 48.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 164,100 shares of the company’s stock after acquiring an additional 53,706 shares during the period. JPMorgan Equity Premium Income ETF makes up 6.3% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 4th largest holding. Pinnacle Wealth Management LLC’s holdings in JPMorgan Equity Premium Income ETF were worth $9,370,000 as of its most recent filing with the SEC.

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

JPMorgan Equity Premium Income ETF Stock Performance

Shares of JPMorgan Equity Premium Income ETF stock opened at $59.51 on Thursday. The stock has a market cap of $43.86 billion, a price-to-earnings ratio of 23.93 and a beta of 0.60. The stock has a 50 day moving average price of $58.41 and a 200-day moving average price of $57.46. JPMorgan Equity Premium Income ETF has a one year low of $49.94 and a one year high of $59.72.

JPMorgan Equity Premium Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, February 2nd were issued a $0.3444 dividend. The ex-dividend date was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend 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.