JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Hits New 52-Week Low – Here’s What Happened

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) shares reached a new 52-week low on Tuesday . The company traded as low as $50.37 and last traded at $50.38, with a volume of 646351 shares trading hands. The stock had previously closed at $50.54.

JPMorgan Ultra-Short Income ETF Stock Performance

The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 109.50 and a beta of 0.01. The business’s fifty day simple moving average is $50.48 and its 200 day simple moving average is $50.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of JPST. JPMorgan Chase & Co. boosted its stake in shares of JPMorgan Ultra-Short Income ETF by 10.1% during the 4th quarter. JPMorgan Chase & Co. now owns 106,472,614 shares of the company’s stock valued at $5,386,450,000 after buying an additional 9,729,791 shares during the last quarter. Morgan Stanley increased its stake in shares of JPMorgan Ultra-Short Income ETF by 2.4% in the fourth quarter. Morgan Stanley now owns 61,468,768 shares of the company’s stock worth $3,109,705,000 after buying an additional 1,449,509 shares during the last quarter. LPL Financial LLC raised its holdings in JPMorgan Ultra-Short Income ETF by 8.0% in the fourth quarter. LPL Financial LLC now owns 19,620,900 shares of the company’s stock valued at $992,621,000 after acquiring an additional 1,459,312 shares in the last quarter. Bank of America Corp DE raised its holdings in JPMorgan Ultra-Short Income ETF by 15.3% in the second quarter. Bank of America Corp DE now owns 16,306,977 shares of the company’s stock valued at $826,438,000 after acquiring an additional 2,162,615 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in JPMorgan Ultra-Short Income ETF by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,445,396 shares of the company’s stock worth $579,023,000 after acquiring an additional 194,855 shares in the last quarter. Hedge funds and other institutional investors own 2.17% of the company’s stock.

About JPMorgan Ultra-Short Income ETF

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.