JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) Sees Significant Decline in Short Interest

JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 35,092 shares, a decline of 80.1% from the September 30th total of 176,090 shares. Based on an average daily volume of 204,131 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

JPMorgan U.S. Tech Leaders ETF Stock Performance

Shares of JTEK stock opened at $99.88 on Tuesday. JPMorgan U.S. Tech Leaders ETF has a 52 week low of $75.25 and a 52 week high of $111.82. The stock has a market capitalization of $4.57 billion, a PE ratio of 47.07 and a beta of 1.76. The stock’s fifty day moving average is $102.02 and its 200-day moving average is $96.06.

Institutional Investors Weigh In On JPMorgan U.S. Tech Leaders ETF

Hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC raised its position in JPMorgan U.S. Tech Leaders ETF by 656.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 14,606 shares of the company’s stock worth $1,536,000 after purchasing an additional 12,676 shares during the last quarter. Private Wealth Partners LLC bought a new stake in shares of JPMorgan U.S. Tech Leaders ETF during the third quarter worth $5,172,000. Hartford Financial Management Inc. acquired a new position in shares of JPMorgan U.S. Tech Leaders ETF during the third quarter valued at $7,404,000. Paradigm Strategies in Wealth Management LLC lifted its stake in shares of JPMorgan U.S. Tech Leaders ETF by 184.5% during the third quarter. Paradigm Strategies in Wealth Management LLC now owns 34,979 shares of the company’s stock valued at $3,680,000 after acquiring an additional 22,682 shares during the period. Finally, Triumph Capital Management lifted its stake in shares of JPMorgan U.S. Tech Leaders ETF by 4.6% during the third quarter. Triumph Capital Management now owns 18,860 shares of the company’s stock valued at $1,984,000 after acquiring an additional 832 shares during the period.

About JPMorgan U.S. Tech Leaders ETF

The JPMorgan U.S. Tech Leaders ETF JPMorgan U.S. Tech Leaders ETF (JTEK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that identifies US equities that are perceived as leaders in technology and technology-enabled industries such as engineering & construction, entertainment, biotechnology, pharmaceuticals, REITs, and energy-alternate sources. JTEK was launched on Oct 4, 2023 and is issued by JPMorgan Chase.